The NZD/USD opens at 0.8527 having set a high of 0.8602 yesterday.
G7 meetings all day yesterday but the market had plenty to focus on with the RBNZ raising rates by 25 basis points to 2.75%, - the first Central bank to begin a hiking cycle.
This is indicative of a robust local economy and a more positive global outlook.
Yesterday afternoon Australian Employment rate was unchanged at 6.0% but the Employment change was much better than expected - full time employment increased by a huge 80,500 jobs, further supporting the kiwi.
Stock markets currently: Dow Jones -1.46%, S&P -1.19%, FTSE -1.01%.
The NZD opens the crosses: 0.9453 AUD, 0.6153 EUR, 0.5130 GBP, 86.62 JPY, 0.9429 CAD.
No local or Australian data to be released today - Market will be eyeing the Retail Sales and Unemployment Claims out of the US tonight (1.30am NZT).
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Dan Bell is the senior currency strategist at HiFX in Auckland. You can contact him here »
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