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The Opening Bell: Where currencies start on Monday, December 19, 2011

Currencies
The Opening Bell: Where currencies start on Monday, December 19, 2011

By Dan Bell

 

The Kiwi’s rebound was tempered by credit rating agency Fitch’s negative credit warning on France, Italy, Spain, Ireland and Cyprus…

Stocks finished the week fairly flat with the FTSE -0.25%, the Dow Jones -0.02%, and the S&P +0.31%.

The EUR/USD saw a high of 1.3085, then retested 1.3000 after the Fitch announcement. The AUD/USD also tested 1.0027, before settling back below parity, opening today around 0.9950.

The NZD is again higher against most major cross rates and opens at current indicative levels- 0.5831 EUR, 0.7629 AUD, 0.4900 GBP and 59.10 JPY.

This week we have NZ Current Account on Wednesday, GDP on Thursday, and.. Christmas on Sunday!

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Dan Bell is the senior currency strategist at HiFX in Auckland. You can contact him here

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