By Dan Bell
The NZDUSD traded to a high of 0.8189, before settling back to 0.8150 where we open today.
Combined with the lingering effect of Bernanke’s mention of a QE3 possibility, better than expected US corporate earnings figures and pending home sales numbers (4.1% vs 1.2% forecast) have seen risk appetite back, and US equities rally for the third day in a row.
Stock markets currently, Dow Jones +0.87%, S&P +0.67%, FTSE 0.52%
With little other data due today, eyes will be on the Bank of Japan meeting, where most are expecting an increase of their asset purchase program to the tune of 5 trillion JPY.
The NZD opens against the crosses at 0.6160 EUR, 0.7845 AUD, 0.5035 GBP, 66.00 JPY
Have a good weekend.
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Dan Bell is the senior currency strategist at HiFX in Auckland. You can contact him here
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