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HiFX Morning Update: NZDUSD opens at 0.7358

HiFX Morning Update

The NZDUSD opens at 0.7358 (mid-rate) this morning.

Markets were subdued on Friday with an absence of tier one economic data and growing concerns over the situation in Syria keeping investors on the side lines.

Markets were closed, and have so far shown little reaction to the news that the defence forces of the US, UK and France, jointly launched a military attack targeting Syria's chemical weapons capabilities.

On Friday the University of Michigan released its preliminary reading on the consumer sentiment index for April. The reading which had been expected to edge down to 100.5 from March’s final reading of 101.4 (a fourteen year high) came in at a disappointing 97.8.

Germany's consumer price inflation printed in line with expectations, with the Destatis report showing Inflation rose to 1.6% in March up from 1.4% in February.

The domestic highlight for the NZD week will be Thursday’squarterly inflation report, with economists currently predicting Q1 CPI will increase by 0.5% q/q.

Global equity markets closed out the week mixed on Friday, -Dow -0.50%, S&P 500 -0.28%, FTSE +0.09%, DAX +0.22%, CAC +0.11%, Nikkei +0.55%, Shanghai -0.66%.

Gold prices pushed higher on Friday up 0.7% closing out the week at $1,345 an ounce, WTI Crude Oil prices edged higher on Friday, closing out the week at $67.33 a barrel, for a weekly gain of 8%.

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