By Dan Bell
The NZD/USD opens at 0.8255 after trading in a relatively narrow range overnight.
The USD strengthened a little after a top European Central Bank official said the crisis is not over, and the German Central Bank chief stated they had set aside billions of euro's against what they believed to be risky ECB moves.
UK manufacturing and industrial production figures both disappointed last night which nudged the NZD/GBP very close to the all-time high.
NZ real estate institute figures, released yesterday, showed nationwide house prices rose 8.1% year on year. This will give the RBNZ no comfort whatsoever.
NZD/AUD traded to a 6-week low of 0.7990.
Gold price rose to USD$1593 an ounce. Base metal prices also moved higher.
World equity markets were generally a little lower across the board.
The NZD opens at 0.8255 USD, 0.8000 AUD, 0.6330 EUR, 0.5535 GBP, & 79.25 JPY.
NZ Food Price Index will be released at 10:45am. The RBNZ rate decision will hit the tapes tomorrow.
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Dan Bell is the senior currency strategist at HiFX in Auckland. You can contact him here
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