By Dan Bell
The NZD/USD opens higher at 0.8310 this morning after a positive evening for global markets.
Speculation of another round of Chinese stimulus saw the Shanghai Index +2.6%, leading global stocks higher across the board.
Markets were also encouraged by a Spanish budget that looked to appease EU expectations, opening the way for a formal bailout request - €40bn in spending cuts suggested.
Stock markets and commodities all higher– Dow Jones +0.54%, S&P +0.97%, FTSE +0.2%, CRB Index +1.18%.
The NZD opens the crosses - 0.7955 AUD, 0.6435 EUR, 0.5120 GBP, 64.55 JPY, 0.8155 CAD.
A quiet data day ahead – don’t forget to put the clocks forward on Saturday night.
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Dan Bell is the senior currency strategist at HiFX in Auckland. You can contact him here
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