The NZDUSD opens at 0.8470 this morning.
The U.S. dollar rose against a basket of major currencies on Monday on reduced concerns over Russia and Ukraine and positive U.S. housing data.
The NZD should remain steady until the release of today’s inflation expectation number out at 3:00pm but with another Fonterra auction overnight risk remains to the downside.
Treasuries, U.S. Treasury debt prices fell on Monday after three days of gains, as risk appetite returned.
Global equity markets were higher on the day; Dow +1.01%, Nikkei +0.03%, Shanghai +0.57%, FTSE+0.78%, DAX +1.68%
Gold prices fell 0.5% to USD$1,299. Oil prices are down -1.6%.
The current indicative mid-rates are:
NZDUSD 0.8470
NZDEUR 0.6342
NZDGBP 0.5065
NZDJPY 86.90
NZDAUD 0.9087
NZDCAD 0.9225
Data Releases:
- 10:45 am NZ PPI q/q
-
15:00 pm NZ Inflation
Expectations q/q
Overnight we have another Fonterra Auction.
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Dan Bell is the senior currency strategist at HiFX in Auckland. You can contact him here »
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