By Dan Bell
The NZD/USD opens at 0.8350 this morning after a quiet weekend across global markets.
US stocks were marginally stronger with the S&P 500 up 0.27% on Friday night.
Commodities performed better with the CRB Index up 0.78% led by oil prices up 1.8%.
The G20 met over the weekend but so far nothing worth noting has come from the meeting.
The EUR continues to recover against most major currencies- EUR/USD opens at 2.5 month highs around 1.3458 while NZD/EUR opens around 0.62 this morning.
The NZD is weaker against GBP at 0.5250 this morning- but is stronger against the AUD at 0.7810 and JPY at 67.90.
On the local front we get Trade Balance numbers at 10:45am this morning.
The big announcements this week are the ECB’s LTRO (Long Term Refinancing Operation) on Wednesday night NZT and testimony from US Fed Chairman Ben Bernanke on Thursday morning NZT.
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Dan Bell is the senior currency strategist at HiFX in Auckland. You can contact him here
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4 Comments
The oil price will steadily go up in the next few weeks and makes car driving unaffordable for societies. We do need solutions, we don’t have – now.
http://www.youtube.com/watch?v=vgDJCllJQhQ&feature=related
Here a typical, former "NZ4Wcar driver" - walking to work in case he has - in 2013
http://www.youtube.com/watch?v=dYK8docRdhg&feature=related
No worries skudiv, LG rules demand reg each horse...oh say $400 a year plus a vet charge required visit too...
Better off with a trained goat or three..milkers...make your own cheese....kids can drive carts to school!...trade them out to neighbours as lawn mowers( mower for fruit..fish...meat...wood).
So he convinced his cabinet colleagues to get rid of regional fuel taxes. Otherwise Aucklanders would have their own pot of money and be able to set up their own transport projects. Which would of course be terrible. Because Aucklanders know nothing about Auckland’s traffic needs. Not like Steven does.
Abstract 2013 – news – poor taxpayers, financially stressed to the limit already, now take another financial burden, for the mismanaging of the economy by the former government over the last 5 years.
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