The New Zealand Dollar (NZD) looks to post a positive week against the US Dollar (USD), the first in a month as the kiwi came off 0.5860 to trade back at 0.5980 early this morning. US Equity markets have all dipped in overnight trading as markets turned “risk off”- the kiwi falling to 0.5940. Earlier the Fed left their interest rate unchanged at 5.50% as widely predicted with Fed officials acknowledging progress with inflation but not yet comfortable easing policy just yet. Attention now is towards tonight’s US Non-Farm Payroll release and unemployment rate. A drop below 0.5900 may signal further downside to 0.5850 levels.
The current interbank midrate is: NZDUSD 0.5935
The interbank range this week has been: NZDUSD 0.5856- 0.5982