Exchange Rates updated 24/04/2014 10:03:07 a.m.

New Zealand

NZD/USD 0.8603
NZD/GBP 0.5123
NZD/EUR 0.6224
NZD/AUD 0.9264
NZD/JPY 88.3106
NZD/CAD 0.9490
NZD/SGD 1.0809
NZD/CHF 0.7602
NZD/HKD 6.6769
NZD/THB 27.8553
NZD/ZAR 9.1057
NZD/DKK 4.6546
NZD/SEK 5.6660

Rates are indicative only and indicate a midpoint between buy and sell prices


All Ord 5458
DOW 16501
FTSE 6674
NZSE 5142


Gold 1284
Oil 101

New Zealand


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The turn around rally underway over the last week and a half, has stalled with some questionable economic data across the globe, testing confidence. Equities crashed in Europe after worries over demand from China and mixed PMI data. PMI Manufacturing, Services and Composite rose but was distorted by strong growth from Germany and soft activity in France. The EUR held 1.3800 after a steady rise was dampened by equally poor data from the US. New Home Sales plunged 14.5% and Weekly Mortgage Applications dropped 3.3% despite the record low interest rates. Housing recovery appears to have 'hit the wall' this year after a steady recovery. The interest rate cost is an incentive so demand must be driven by weaker consumer activity.The AUD tumbled yesterday after the release of CPI inflation data. Expectations were for around 0.8% for the quarter and a big miss came in at 0.6%. This allows the RBA to continue the low interest rate environment and takes the pressure off the currency. The currency dropped back to 0.9280 and allowed upward pressure on the KIWI to stall. The NZD dipped to 0.8580 with the RBNZ to announce the latest rate decision this morning. The hawkish Governor has probably made his point, with the last rate hike, and will resist further temptations. Look to further economic data release, to drive currencies and equities, with the absence of any break-out Geo-Political events.


21/4 Easter Monday, UK Home Prices, Chicago Feds National Activity Index

22/4 Australian Leading Index, Japan Leading Index, EU Construction, US Home Price Index, Richmond Fed Manufacturing Index, US Existing Home Sales, EU Consumer Confidence

23/4 NZ Migration, Australia CPI, China Manufacturing PMI, NZ Credit Card Spending, France/German/EU Services, Manufacturing and Composite PMI, Bank of England Minutes, US Weekly Mortgage Applications, US Manufacturing PMI, US New Home Sales

24/4 RBNZ Rate Decision, China Leading Index, German IFO Business Confidence, US Durable Goods Orders, US Weekly Jobless Claims

25/5 ANZAC Day, UK Retail Sales, German PMI, University of Michigan Confidence, France Employment

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