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The Opening Bell: Where currencies start for Friday, April 4, 2014

Currencies
The Opening Bell: Where currencies start for Friday, April 4, 2014

By Dan Bell

The NZD/USD opens at 0.8535 having steadily lost ground yesterday marking three consecutive days of losses.

The NZD was still feeling the effects of a sharp selloff after Wednesday's fall of global dairy prices, with no local data to underpin the kiwi it fell to support at 0.8515-20.

Overnight UK data was weak. Particular mention to the Services PMI which is a leading indicator of economic health. It's recent downward trajectory continued and it hit its lowest level since June 2013.

Stock markets currently: Dow Jones -0.14%, S&P -0.36%, FTSE -0.15%.

The NZD opens the crosses - 0.9245 AUD, 0.6225 EUR, 0.5145 GBP, 88.75 JPY, 0.9420 CAD.

Locally there is no data out today.

All eyes focussed on the US Non-Farm Employment change tonight. Market is expecting a solid 199k increase, up from 175k last month.

The US unemployment rate is expected to decrease 0.1% to 6.6%.

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

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