sign up log in
Want to go ad-free? Find out how, here.

The Opening Bell: Where currencies start for Friday, January 18, 2013

Currencies
The Opening Bell: Where currencies start for Friday, January 18, 2013

By Dan Bell

The NZD/USD opens at 0.8415 this morning, after an overnight low of 0.8381.

The NZD/USD was sold after yesterday afternoon’s disappointing Australian labour force data caused the AUD/USD to sell off - this dragged the NZD along for the ride.

NZD/USD bounced back somewhat after a solid bond auction from debt-ladened Spain, combined with upbeat US housing and jobs data boosted risk sentiment.

Global equity markets, commodity prices, and the EUR/USD also moved higher in response.

The JPY plunged on expectation the Bank of Japan is about to aggressively monetary policy easing. This pushed the NZD/JPY to a 4 ½ year high of 75.63.

World equity markets were climbed between 0.4% to 0.8% on the day.

Gold prices dropped sharply initially before climbing to USD$1690. Copper prices and other base metals all rallied.

The NZD opens at 0.8415 USD, 0.7975 AUD, 0.6290 EUR, 0.5260 GBP, & 75.55 JPY.

NZ quarterly CPI data hit the tapes at 10:45am today, followed by the 3:00pm release of Chinese GDP, Industrial Production, and Retail Sales. US Consumer Sentiment will be released tonight.

------------------------------------------------------------

To subscribe to our daily Currency Rate Sheet email, enter your email address here.

Email:  

-------------------------------------------------------------

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

No chart with that title exists.

We welcome your comments below. If you are not already registered, please register to comment.

Remember we welcome robust, respectful and insightful debate. We don't welcome abusive or defamatory comments and will de-register those repeatedly making such comments. Our current comment policy is here.