Breaking news: After hitting a peak, bitcoin falls -US$1712 in 15 hours, or almost -9%. More soon.

HiFX's Dan Bell reviews the NZ$'s bounce back over 79 USc on European summit deal to directly inject capital into Spanish banks; fresh talk of UK and US money printing

HiFX's Dan Bell reviews the NZ$'s bounce back over 79 USc on European summit deal to directly inject capital into Spanish banks; fresh talk of UK and US money printing

By Bernard Hickey

Here's my weekly currencies review and outlook with HiFX's Senior Dealer Dan Bell, including a look at the New Zealand dollar's sharp bounce on Friday afternoon after European Union leaders agreed to directly inject capital into Spanish banks.

The euro also rose sharply, but the jury remains out without confirmation from the key national leaders, including Angela 'Nein' Merkel.

Bell looks ahead to next week's non-farm payrolls report in America and talk from both Britain and the United States of fresh rounds of money printing or quantitative easing.

He also looks at the Reserve Bank of Australia's decision expected on Tuesday to hold the official cash rate, but with an easing bias in the months ahead.

Bell sees the New Zealand dollar encountering stiff resistance near 80 USc.

To subscribe to our free daily Currency Rate Sheet and News email, enter your email address here.

Email:  

---------------------------------------------------------

Dan Bell is the Senior Dealer at HiFX, a UK-headquartered foreign exchange dealer with significant operations in Australia and New Zealand. It has a dealing room in Auckland. See more detail here.

 

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.