The NZDUSD opens at 0.8780 this morning.
The USD eased after encouraging US Consumer Sentiment Data failed to alter expectations that US interest rates will not be raised anytime soon.
The NZ TWI (trade-weighted index) rose to all time highs on Friday as the NZD remained very attractive to yield-hungry investors.
TheNZDUSD touched a 35-month high Friday night, while the NZDEUR hit a fresh 12-month high and the NZDAUD peaked at levels last seen 8-weeks previous.
There is not a lot on the domestic data calendar this week - today's NZ Building Consents and Business Confidence numbers being the most significant.
The Reserve Bank of Australia interest rate announcement and US Non-farm Payrolls employment data are the most significant economic events scheduled globally this week.
Global equity markets were mixed on the day - Dow +0.0%, Nikkei -1.4%, Shanghai +0.1%, FTSE +0.3%, DAX +0.1%
Gold prices open the week at USD$1314. Oil prices gained 0.1%.
The current indicative mid-rates are:
NZDUSD 0.8775
NZDEUR 0.643
NZDGBP 0.5150
NZDJPY 89.00
NZDAUD 0.9315
NZDCAD 0.9360
NZ Building Consents numbers hits the tapes at 10:45am, followed by ANZ Business Confidence figures at 1pm.
Australian Inflation Gauge & Private Sector Credit will be released early this afternoon.
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Dan Bell is the senior currency strategist at HiFX in Auckland. You can contact him here »
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