By Dan Bell
The NZD/USD stayed within yesterdays range, opening this morning just off the lows at 0.7630.
Reports circulated that Moody’s is about to downgrade Spain, keeping Euro watchers nervous, as well as reports that EUR 1bln deposits were withdrawn from Bankia, the Spanish nationalised bank.
Moody’s have just downgraded 18 Spanish banks this morning.
US employment figures and the Philly Fed Manufacturing numbers both disappointed markets, seeing the Dow Jones head lower in to the close this morning.
Stock markets this morning: Dow Jones -1.24%, S&P -1.51%, FTSE -1.24%
The NZD opens the crosses - 0.7715 AUD, 0.6010 EUR, 0.4835 GBP and 60.50 JPY.
Markets will be watching the G8 meetings this weekend – as well as plenty of interest around tonight’s Facebook IPO
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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