The NZDUSD opens at 0.7158 (mid-rate) this morning. Currencies have traded tight ranges overnight as investors look to this mornings’ speeches from ECB President Mario Draghi and Fed Chair Janet Yellen for direction. US economic data releases were ahead of expectations, with both Manufacturing PMI and the ADP Non-Farm Employment report exceeding economists’ forecasts. The Institute for Supply Management reported a sharp rise in their non-manufacturing index, with the index spiking to 59.8 in September, up from 55.3 in August and well ahead of the forecast 55.5 reading. As expected employment in the US private sector ... (full story)