The NZDUSD opens at 0.8485 this morning.
US GDP figures disappointed (2.5% annual rate versus 3.0% expected) on Friday night.
The Bank of Japan held off announcing new monetary initiatives, but policymakers were divided on whether the BoJ could hit their 2% inflation level within their 2-year target.
USD/JPY dropped sharply from 99.50 to 97.95, and the NZD/JPY followed suit.
Gold price fell to USD$1462 an ounce in choppy trading, while Copper fell more than 2% on Friday. Commodities are one of the worse performing asset this year, with the 19-commodity CRB index plunging more than 6% the past few weeks.
Global equity markets were lower on the day, but losses were mostly limited in nature.
The NZD opens at 0.8485 USD, 0.8250 AUD, 0.6495 EUR, 0.5480 GBP, & 83.15 JPY.
There are no data releases on the domestic calendar today.
China has a bank holiday Monday, Tuesday, and Wednesday.
US non-farm payrolls employment figures hit the tapes Friday night – this is the most significant piece on data on the calendar this week.
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Dan Bell is the senior currency strategist at HiFX in Auckland. You can contact him here »
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