The NZDUSD opens higher at 0.8680 this morning.
The NZDUSD rallied over the weekend with the USD unable to make headway while both the ECB and the BOJ continue to discuss adding to their stimulus but are yet to do so.
The weekend's US data came in stronger than expected . (US PI +0.5% v Feb -0.15, Michigan C/Sentiment Prelim 82.6 v March 80cConsensus 81) but fell short of supporting the USD..
Global equity markets continued to slide with tech stocks leading the way, Dow -0.89%, Nikkei -2.38%, Shanghai -0.18%, FTSE -1.21%, DAX -2.48%
Gold prices closed the week above USD$1,300 on safe-haven buying. Oil prices closed up 0.33% at $103.74
The current indicative mid-rates are:
NZDUSD 0.8680
NZDEUR 0.6275
NZDGBP 0.5195
NZDJPY 88.25
NZDAUD 0.9260
NZDCAD 0.9532
There is no data out on the domestic calendar today, tonight we have US Retail Sales.
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Dan Bell is the senior currency strategist at HiFX in Auckland. You can contact him here »
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