By Dan Bell
The NZD/USD opens at 0.8080 this morning after a much quieter session than seen on Friday evening – markets firmly poised for the raft of data due at the back end of the week.
The EURUSD rose above 1.2800, but struggled and turned south after weak Italian GDP and fresh concerns from the Troika about Greece’s ability to implement their €12bn savings plan – currently at 1.2760
Stock markets all slightly lower after some consolidation – Dow Jones -0.39%, S&P -0.61%, FTSE -0.03% - CRB Index +0.5%
The NZD opens the crosses - 0.7820 AUD, 0.6340 EUR, 0.5060 GBP and 63.25 JPY.
A data heavy back-end to the week sees the German Constitutional Court decision on the legality of the ESM and the Dutch elections on Wednesday night, NZD OCR announcement Thursday morning, RBA Bulletin Thursday, US PPI, Unemployment and the FOMC Friday morning, and European and US CPI numbers Friday night/Saturday morning.
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Dan Bell is the senior currency strategist at HiFX in Auckland. You can contact him here
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