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NZ$ Boosted By Stronger Equities, Fed Speakers Later

NZD

NZDUSD has risen strongly helped by better risk sentiment as equity markets are generally higher. NZDUSD is up 0.2% to 0.5921, close to the intraday high of 0.5924, and well off the low of 0.5907. It has found support around 59c but is still below Tuesday’s close. The USD index is down 0.1%.

  • The Aussie-Kiwi cross is flat at around 1.0834 and has been range trading. NZDEUR is up 0.1% to 0.5526 and NZDJPY +0.1% to 89.32.
  • NZGBs yields are down marginally in line with Australia.
  • Equity markets are generally stronger with the NZX 50 up 0.3%, ASX +0.6% but the Hang Seng down 0.2%. Commodity prices have also benefited from the better risk tone with Brent crude up 0.5% to $79.96/bbl.
  • Later there are more Fed speakers with Chairman Powell scheduled to participate on a panel at the IMF conference at 1900 GMT. Harker, Bostic, Barkin and Paese are also on today’s calendar. The ECB’s Lagarde and Lane are due to appear. The focus is on central bankers as in terms of data there are only US jobless claims. Tomorrow Business NZ releases the October manufacturing PMI.
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