The NZDUSD opens higher at 0.7920 this morning.
Positive earnings data from US retailers saw global equity markets rally along with the NZD which recovered all its losses after RBA comments around possible intervention.
The NZD traded as high as 0.7930 and has held on to the majority of this move currently trading above .79.
Global equity markets were mainly up on the day – Dow -0.1%, Nikkei +0.6%, Shanghai -0.3%, FTSE+0.3%, DAX +0.1%.
Gold prices gained 2.3% to USD$1,187. Oil bounced back, finishing +2.2% on the day.
The current indicative mid-rates are:
NZDUSD 0.7916
NZDEUR 0.6315
NZDGBP 0.5045
NZDJPY 92.25
NZDAUD 0.9035
NZDCAD 0.8935
On the day we have NZ Quarterly Retail Sales at 10:45am.
----------------------------------------------------------
To subscribe to our free daily Currency Rate Sheet and News email, enter your email address here.
----------------------------------------------------------
Dan Bell is the senior currency strategist at HiFX in Auckland. You can contact him here »
We welcome your comments below. If you are not already registered, please register to comment.
Remember we welcome robust, respectful and insightful debate. We don't welcome abusive or defamatory comments and will de-register those repeatedly making such comments. Our current comment policy is here.