By Dan Bell
The NZD/USD opens at 0.8110/0.8130 after a relatively quiet weekend across global markets.
US stock markets finished in positive territory with the S&P 500 up 0.65%. Commodities were mixed with the CRB Index down 0.39%
The EUR/USD held onto recent gains and opens around 1.25 this morning. European headlines continue to show divided opinions about the EU policy response to ongoing sovereign debt problems.
A news report that the Germany Finance Minister has been discussing a temporary Greek exit from the EMU did the rounds over the weekend - not sure how they expect to pull this off without a massive disruption.
US Core Durable Goods orders were better than expected on Friday night - although when you strip out some of the big ticket aircraft orders they were pretty average.
The NZD opens at 0.7774 AUD, 0.6478 EUR, 0.5125, GBP. 63.80 JPY.
Not much to report on the local front this week. The only local data worth mentioning is the NBNZ Business Confidence numbers on Thursday.
The big news this week will be the Fed Chairman’s speech at the Central Bankers conference Jackson Hole - which kicks off on Friday.
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Dan Bell is the senior currency strategist at HiFX in Auckland. You can contact him here
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