By Dan Bell
The NZD/USD opens around 0.8430 after the US Central Bank announced another round of QE this morning.
The Fed announced a fresh round of Treasury purchases ($45 bn per month) and will continue to provide additional stimulus until unemployment is below 6.5%.
US equities are trading in positive territory with the S&P 500 up 0.44%.
The NZD/USD has managed to rally over 350 basis points in 3 weeks and is trading at 9 month highs.
The NZD opens at current indicative mid rates: 0.7986 AUD, 0.6452 EUR, 70.11 JPY, 0.5225 GBP, 0.83 CAD.
From NZ this morning we get Manufacturing data at 10:30am and Food Prices at 10:45am. From Australia we get Inflation Expectations and New Motor Vehicle Sales.
US Fiscal Cliff discussions will continue to be the focus of the next week or so.
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Dan Bell is the senior currency strategist at HiFX in Auckland. You can contact him here
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