The NZDUSD opens higher at 0.8585 this morning.
The NZDUSD rallied after the USD weakened across the board on the release of Friday nights US non-farm payroll numbers.
The payroll figures were only a touch worse than expected, however there was an element in the market which was positioned for a stellar number as the job market bounced back from the severe US winter - they were disappointed, and the USD and US equities fell, while gold and bond prices rose.
The payroll figures will encourage the US Fed to continue to taper it huge stimulus program.
It is a light week on the domestic data front, with Tuesday's NZIER Business Confidence release being the most significant.
Global equity markets were mixed on the day - Dow -1.0%, Nikkei -0.1%, Shanghai +1.0%, FTSE +0.7%, DAX +0.7%
Gold prices jumped 1.0% to USD$1,302. Oil prices increased 0.5%.
The current indicative mid-rates are:
NZDUSD 0.8585
NZDEUR 0.6265
NZDGBP 0.5180
NZDJPY 88.60
NZDAUD 0.9245
NZDCAD 0.9425
There is no data out on the domestic calendar today.
Australian ANZ Job Ads hit the tapes at 2.30pm
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Dan Bell is the senior currency strategist at HiFX in Auckland. You can contact him here »
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