By Dan Bell
The NZD/USD opens at 0.8030 this morning as global stock markets continue to extend their gains, increasing demand for higher-yielding assets.
US home sales and the Philadelphia manufacturing figures disappointed, adding more expectation for the Fed to add further stimulus to the economy.
EURUSD has been kept under 1.2300 by a combination of a disappointing Spanish bond auction, talk of the Swiss National Bank selling, and poor Italian industrial data – NZDEUR posting another historic high of 0.6566.
Stock markets this morning: Dow Jones +0.27%, S&P -+0.27%, FTSE +0.5%. Commodities had a strong evening, CRB index +1.97%.
The NZD opens the crosses - 0.7700 AUD, 0.6535 EUR, 0.5105 GBP and 63.10 JPY.
NZ Visitor Arrivals (10.45am) and Credit Card Spending (3.00pm) today – 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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