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The Opening Bell: Where currencies start for Thursday, February 28, 2013

Posted in Currencies February 28, 2013 - 08:13am, Dan Bell

By Dan Bell

The NZD/USD opens around 0.8270 this morning following an improved tone across global markets.

US stocks have had a very strong night with the S&P 500 currently up 1.28%. Commodities are mixed.

The Italian election developments will keep investors nervous although Italian and Spanish bond yields have eased overnight and Italy managed to sell EUR 6.5bn in 5 and 10 year bonds so perhaps the market’s reaction earlier in the week was overdone.

The NZD opens at current mid rates: 0.8084 AUD, 0.6292 EUR, 0.5456 GBP, 76.24 JPY, 0.8455 CAD.

From NZ today we get Building Approvals and Business Confidence. From Australia we get Private CAPEX numbers.

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

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