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The Opening Bell: Where currencies start for Wednesday, November 14, 2012

Posted in Currencies

By Dan Bell

The NZD/USD opens higher this morning after a positive night for stock markets and speculation that Germany may pay Greece one bundled relief payment of EUR 44bln – currently 0.8195.

This news was coupled by more noise about an imminent Spanish bailout request.

German ZEW outlook survey slid from -11.5 to -15.7 for November, whilst UK CPI leapt to 2.7% in October.

The RICS UK house price survey also showed the least pessimistic number in two years.

Dow Jones +0.30%, S&P +0.47%, FTSE +0.33%, CRB Index +0.05%.

The NZD opens the crosses - 0.7850 AUD, 0.6450 EUR, 0.5160 GBP, 65.15 JPY, 0.8205 CAD.

NZ Retail Sales numbers this morning at 10.45am, could be a mover considering the uncertainty around the RBNZs next move.

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

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