By Dan Bell
The NZD/USD opens around 0.7890 this morning after a trading to a low of 0.7857 overnight.
Global stocks are weaker overnight as slower growth and weaker corporate earnings weigh - the S&P 500 was down over 1% at one stage but finished down 0.5% for the day.
The EUR/USD traded under 1.22 overnight to lows around 1.2165. The AUD/USD came under selling pressure yesterday, dropping to a low of 1.01 overnight after weaker than expected labour force data.
The NZD is weaker against most major cross rates overnight and opens at 0.6460 EUR, 0.7780 AUD, 0.5115 GBP, 62.50 JPY.
The focus today will be on a raft of data from China including Q2 GDP at 2pm.
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Dan Bell is the senior currency strategist at HiFX in Auckland. You can contact him here
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