By Dan Bell
The NZD/USD opens at 0.7930/0.7950 up from yesterday’s lows around the 0.79 level.
European election results have created more question marks for Europe.
The Greek result has yet to be resolved - with no party receiving enough votes to govern on their own a number of parties are scrambling to form a government.
US stock markets have finished mixed with the Dow Jones Index down 0.23% but the S&P 500 up 0.04%.
The EUR/USD has recovered from yesterday’s lows under 1.30 and opens at 1.3050 this morning. The AUD/USD opens at 1.02 after trading as low as 1.0110 yesterday morning.
The NZD is weaker against the AUD and opens around 0.7790. Stronger retail sales and building approvals from Australia yesterday gave the AUD a boost.
Against the other major cross rates the NZD is relatively unchanged and opens at 0.49 GBP, 0.6080 EUR and 63.40 JPY.
Not much to report on the local front. From Australia we get Trade Balance numbers today and Federal Budget overnight.
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Dan Bell is the senior currency strategist at HiFX in Auckland. You can contact him here
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