By Dan Bell
The NZD/USD opens around 0.8140/0.8160 down ½ a cent from yesterday’s highs.
US equity markets are weaker this morning with the Dow Jones Index down 0.36% and the S&P 500 down 0.27% as I write. Commodities are also softer with oil prices down 2.8%.
The EUR has held up remarkably well despite France being downgraded by credit rating agency Moody’s yesterday from AAA to AA1.
This rating action takes Moody’s in line with S+P, while Fitch is still AAA. The EUR/USD opens around 1.28.
The NZD is mixed against the major cross rates and opens around 0.7860 AUD, 0.6362 EUR, 0.5120 GBP, 66.60 JPY and 0.8135 CAD.
U.S. housing starts rose to their highest rate in more than 4 years in October adding to the recent run of better than expecting housing data from the world’s largest economy.
From NZ we get Credit Card Spending at 3pm today. EU Finance Ministers are currently meeting so any comments or developments about Greece will be closely watched over the next few hours.
------------------------------------------------------------
To subscribe to our daily Currency Rate Sheet email, enter your email address here.
-------------------------------------------------------------
Dan Bell is the senior currency strategist at HiFX in Auckland. You can contact him here
No chart with that title exists.
We welcome your comments below. If you are not already registered, please register to comment.
Remember we welcome robust, respectful and insightful debate. We don't welcome abusive or defamatory comments and will de-register those repeatedly making such comments. Our current comment policy is here.