The Opening Bell: Where currencies start on Friday, February 24, 2012

The Opening Bell: Where currencies start on Friday, February 24, 2012

By Dan Bell

The NZD/USD opens at 0.8320 this morning after finding support around 0.8260 and hitting a high of 0.8355 overnight.

Markets have had another relatively quiet night. Some better economic data from Germany has seen the EUR/USD continue to lift trading to a high of 1.3340.

US stocks are marginally firmer with the S&P 500 currently up 0.2%.

The NZD continues to drift off against the EUR and is trading around 0.623 this morning.

The NZD is down almost 3% from recent all time highs over 0.64.

Against the other major cross rates we open at 0.78 AUD, 0.53 GBP and 66.70 JPY.

Not much to report on the local front. From Australia, RBA Governor Glenn Stevens is speaking around midday.

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Dan Bell is the senior currency strategist at HiFX in Auckland. You can contact him here

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