By Dan Bell
The NZD/USD made a high just under 0.79 overnight and opens around 0.7850 this morning.
Global markets have stabilised overnight on hopes that a coalition Greek government will be formed.
Euro zone officials also said they are prepared to keep financing Greece until a new government is formed, whether one emerges in the next few days or if new elections have to be held next month.
Global stocks are firmer overnight with the S&P 500 finishing up 0.07%.
The Bank of England held UK interest rates at a record low of 0.5% and said they will not be extending its quantitative easing programme (QE).
Australian employment numbers yesterday were much stronger than expected with their headline unemployment rate dropping to 4.9% which gave the AUD a boost against most major currencies.
Claims for unemployment benefits in the US declined last week to the lowest level in a month, easing concern that the U.S. labour market is slowing.
The NZD is relatively unchanged against the major cross rates and opens at 0.7780 AUD, 0.6070 EUR, 0.4860 GBP and 62.80 JPY.
Not much to report on the local front today. Offshore we get a raft of news from China this afternoon including CPI, Industrial Production and Retail Sales.
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Dan Bell is the senior currency strategist at HiFX in Auckland. You can contact him here
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