By Dan Bell
With markets focussing on US yields, the slight retracement from 10 year highs at 2.35% saw a bout of USD profit-taking, seeing the NZDUSD rally back from 0.8056 to a high of 0.8214.
US data was largely positive, with improvements seen in the manufacturing sector, the Philadelphia Fed survey rising to 12.5 (vs. 12.0 expectation) and jobless claims seeing a four year low.
Stock markets are relatively unchanged, FTSE -0.08%, Dow Jones +0.34%, S&P +0.30%
The NZD opens against the crosses at 0.6270 EUR, 0.7785 AUD, 0.5220 GBP, 68.40 JPY
All eyes back to the US tonight, with key CPI numbers due, as well as consumer sentiment figures.
With new ranges possibly materialising, this weekend’s closes will be key.
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Dan Bell is the senior currency strategist at HiFX in Auckland. You can contact him here
(Updated with Dow close)
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