By Dan Bell
The NZD/USD opens around 0.7780 this morning after making a low of 0.7746 and a high of 0.7827.
Global markets have had another quiet night awaiting further developments from the European Summit on Friday.
The AUD/USD has traded a similar range as the NZD and opens around 1.0270 this morning.
The RBNZ announce the Official Cash Rate and Quarterly Monetary Policy Statement at 9am this morning. No change is expected and an overall downbeat assessment of local and offshore developments may see the NZD under a little pressure.
The NZD is broadly weaker on a trade weighted basis and opens around 0.7570 AUD, 0.58 EUR, 0.4950 GBP and 60.40 JPY.
From Australia we get Employment numbers at 1:30 NZT. Tonight the European Central Bank and Bank of England announce interest rates- no change exp from the BoE and a 25bps rate cut from the ECB.
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Dan Bell is the senior currency strategist at HiFX in Auckland. You can contact him here
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