The NZD/USD opens at 0.8260 after trading to interbank highs around 0.83 overnight.
The RBNZ was fairly neutral yesterday and not as concerned about the high NZD as some were expecting. Will see how this plays out if the NZD continues to rally over coming months.
The EUR has been under pressure overnight after inflation data was weaker than expected sparking concerns of deflation risk in the Euro zone.
Global equity markets have had a quiet session with the S&P 500 currently up 0.02%.
Gold and other precious metals fell overnight with gold down 1.76% and silver losing 4.52%.
The NZD opens at current indicative mid rates: 0.8736 AUD, 0.6082 EUR, 0.5152 GBP, 81.24 JPY, and 0.8605 CAD.
Not much to report from NZ today. From Australia we get PPI, House Prices and PMI data. From China we get Manufacturing PMI data at 2pm.
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Dan Bell is the senior currency strategist at HiFX in Auckland. You can contact him here »
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