HiFX Morning Update
NZDEUR 0.5890 -0.4%
NZDGBP 0.4366 0.6%
NZDJPY 80.50 0.7%
NZDAUD 0.9140 -0.5%
NZDCAD 0.8665 -0.1%
The NZDUSD opens at 0.6690 (mid-rate) this morning.
The NZD continued to out-perform as the week closed, trading as high as 0.6720 against the USD following Friday’s Fed minutes. In the absence of any notable data releases investors turned their attention to several Fed Speeches released over the weekend, in which all 3 Fed Governors expressed a preference for interest rates to rise this side of the new year.
We should have a quiet start to the week with the U.S. celebrating Thanksgiving today and investors awaiting both local and US data releases later in the week (Thursday’s U.S. Retail Sales and Friday’s NZD CPI q/q data releases) for direction.
Global equity markets finished the week broadly higher - Dow +0.2%, S&P 500 +0.07%, FTSE +0.64%, DAX +1.04%, CAC +0.54%, Nikkei +1.64%, Shanghai +1.27%.
Gold prices gained $18 on Friday closing out the week at a 3-week high of $1157 an ounce, WTI Crude Oil continued to rise on Friday closing out the week at $49.63 a barrel.