The Opening Bell: Where currencies start for Wednesday, January 23, 2013

By Dan Bell

The NZD/USD opens at 0.8405 this morning, having peaked at 0.8429 after the Bank of Japan announced unlimited asset buying, and raised its inflation target to 2%, to boost economic growth.

German economic sentiment figures beat all expectations to post its highest reading since May 2012 – a sign that the euro zone debt crisis impact is waning?

World equity markets were mixed on the day, with the European shares falling, while the US indices were marginally higher.

Gold prices climbed 0.3% to USD$1694. Copper and other base metals prices showed solid gains.

The NZD opens at 0.8405 USD, 0.7955 AUD, 0.6310 EUR, 0.5295 GBP, & 74.55 JPY.

There is no data scheduled on the domestic calendar today. Australian quarterly CPI figures hit the tapes at 1:30pm.


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Dan Bell is the senior currency strategist at HiFX in Auckland. You can contact him here

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Doesn't leave many countries that are not doing something to effect their x-rate. Even Oz can be argued are doing it by dropping their cash rate.
Still, I am sure that John Key knows better than the rest of the world.