By Dan Bell
The NZD/USD opens at 0.8210 this morning after hitting an interbank high around 0.8250.
US Inflation data came in slightly weaker than expected for Feb with Core CPI +0.1% and Headline +0.4% - reducing any urgency for the Federal Reserve to tighten monetary policy which has seen the US Dollar under pressure again.
US Industrial Production and Consumer Sentiment also disappointed USD bulls both coming in slightly weaker than expected.
US equities were mixed - the S&P 500 ended up +0.11% - which is still around 4 year highs, while the Dow finished down 0.15%.
Commodities were up across the board with the CRB Index +0.64% led by Oil prices up 1.8%.
The NZD is marginally weaker against most major cross rates and opens at current indicative levels 0.7760 AUD, 0.6230 EUR, 0.5190 GBP and 68.40 JPY.
On the local front we get NZ Consumer Sentiment this morning and RBA Gov Stevens is speaking this afternoon.
Later in the week the focus will be on NZ Current Account on Wednesday and NZ GDP on Thursday.
----------------------------------------------------------------
To subscribe to our daily Currency Rate Sheet email, enter your email address here.
---------------------------------------------------------------------------------------------------------------------------------------------
Dan Bell is the senior currency strategist at HiFX in Auckland. You can contact him here
(Updated with Dow close)
No chart with that title exists.
We welcome your comments below. If you are not already registered, please register to comment.
Remember we welcome robust, respectful and insightful debate. We don't welcome abusive or defamatory comments and will de-register those repeatedly making such comments. Our current comment policy is here.