HiFX Morning Update, September 28 2016
The NZDUSD opens at 0.7301 (mid-rate) this morning.
The NZD has continued its recovery since last week’s fall, spiking as high as 0.7325 against the USD before better-than- expected US consumer confidence data bolstered the USD.
Markets have traded tight ranges as traders digest yesterday’s first of three eagerly awaited presidential debates, with most pundits giving Clinton the edge.
For or a second consecutive month consumer confidence in the US increased, this time surprising the market by spiking to a post-recession high. Economists had expected the index to fall from the originally reported 101.1 reading in August to 98.8 for the month of September, instead the index spiked to 104.1 in September from an upwardly revised 101.8 in August.
Global equity markets are mixed - Dow +0.73%, S&P 500 +0.66%, FTSE -0.15%, DAX -0.31%, CAC -0.21%, Nikkei +0.84%, Shanghai +0.60%.
Gold prices are down $13 overnight currently trading at $1,326 an ounce, WTI Crude Oil has given up yesterday’s gains currently down 3.2% trading at $44.42 a barrel