By Dan Bell
The NZD/USD opens around 0.7720 this morning after making a low of 0.7661 and a high of 0.7750.
Risk sentiment improved overnight following better than expected economic data from the US - initial claims for unemployment benefits dropped to 364,000, the lowest level since April 2008. A US consumer confidence measure was also more upbeat than expected.
Global stock markets are up across the board with most European equities up +1% - US equities currently up 0.5% and commodities have had a positive night with the CRB Index +0.57% .
The NZD is up against most major cross rates and opens at current indicative levels: 0.7620 AUD, 0.5920 EUR, 0.4930 GBP, 60.40 JPY.
This will be our last Morning Update for the year. All the best for the festive season and happy holidays!
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Dan Bell is the senior currency strategist at HiFX in Auckland. You can contact him here
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