By Dan Bell
The NZD/USD opens at 0.7520 - around the same levels as yesterday after hitting a low of 0.75 and a high of 0.7576.
The market continues to focus on news headlines out of Europe. Another poll from Greece yesterday showed pro-bailout New Democracy ahead of SYRIZIA 25% vs 22.7%...which gave sentiment a boost- does anyone else get the feeling we could be getting duped by these polls?
Sentiment remains fragile. Investors continue to flock to US and German government bonds with their 10-year yields dropped to 1.20% and 1.56%.
NZ Business Confidence came in softer yesterday- no surprise there.
The Danish Central Bank cut interest rates overnight by 0.15% to 0.45% - I wonder if this is going to give the RBNZ any ideas for their next meeting? The Reserve Bank of Australia announces their cash rate next week - many are starting looking for another rate cut from them.
The NZD opens at 0.7733 AUD, 0.6089 EUR, 0.4885, 59.00 JPY.
NZ Terms of Trade numbers today. Offshore we get PMI Manufacturing numbers from China.
Tonight the focus will be on US Employment Situation Report which includes the Non Farm Payrolls- expected to come in at +150K for May and the Unemployment Rate exp unchanged at 8.1%.
----------------------------------------------------------------
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
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.