The NZD/USD opens around 0.8550 this morning after trading to a high of 0.8573 overnight.
Global stocks have had a positive night with the S&P 500 up 0.72% to 1,593 - not far off all time highs. Commodities have also rallied with gold and oil prices up 1.50%.
The NZD has been one of the strongest currencies again overnight and opens at current indicative mid rates: 0.8272 AUD, 0.6540 EUR, 0.5526 GBP, 83.73 JPY, and 0.8662 CAD.
US economic data was mixed with pending home sales up 1.5% in March but Dallas Fed Factory Index was down in April.
Recent data from the US has been weaker than expected suggesting tighter fiscal policy is weighing on the economy more than expected although the US housing market is still improving.
China and Japan have a number of holidays this week so expected to be quiet through Asia.
On the domestic front we get NZ Business Confidence at 1pm. From Australia we get Private Sector Credit 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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