The NZDUSD has bounced back to 0.8495 this morning after yesterday’s sharp sell off.
The NZD, Gold, and equities were dumped yesterday after recent weak economic data from China and on nervousness after the Boston Marathon bombings.
However, risk assets have bounced back overnight after encouraging US data, particularly building permits and housing starts, and views that the sharp sell off was overdone.
The EUR/USD rallied to a 7-week high, while gold prices jumped up 3%.
US equity markets gained between 1% & 1.5%, while the UK and European bourses fall circa 0.5%.
The Gold price climbed sharply to trade at USD$1365.
The NZD opens at 0.8495 USD, 0.8170 AUD, 0.6445 EUR, 0.5525 GBP, & 82.80 JPY.
NZ CPI figures will be released at 10:45am today.
G20 meeting starts Thursday (US time) in Washington.
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Dan Bell is the senior currency strategist at HiFX in Auckland. You can contact him here »
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