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The Opening Bell: Where currencies start for Friday, October 12, 2012

Currencies
The Opening Bell: Where currencies start for Friday, October 12, 2012

By Dan Bell

The NZD/USD opens just shy of 0.8180 this morning after a mildly positive night for markets.
 
The NZD benefited from an Australian job data number yesterday that showed a extra 32,100 full time jobs had been created in the Australian economy – AUDUSD rallied to nearly 1.0300, taking the NZDUSD higher with it – NZDAUD dipped as a result down to 0.7950.
 
US jobless claims fell and the US trade deficit widened to $44.2bn – and with a lack of bad news from Europe, stocks are all marginally higher.

Dow Jones +0.05%, S&P +0.21%, FTSE +0.92%, CRB Index +0.60%

The NZD opens the crosses - 0.7955 AUD, 0.6320 EUR, 0.5095 GBP, 64.05 JPY, 0.8005 CAD.

A lack of domestic data today – US PPI numbers and more Fed speak this evening.

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

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3 Comments

No , he will not step down . He would continue as Fed Chairman until the expiry of his contract ( February 2014 ) .. .. and then President Mutt Romney won't re-appoint him ...

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Yes, if Mitt Romney wins Ben Bernanke will step down.  The only problem is that if Mitt Romney wins then the adminsitration will print even more money and Israel will be going to war with Iran a lot quicker.

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The USA and its reserve currency is (still) a beast. 

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