The NZDUSD opens lower at 0.8045 this morning.
Having traded to a 0.8134 high Friday night, the NZDUSD slipped lower to open the week right on Friday’s low.
The NZDUSD slipped lower on Friday as Japan’s Nikkei stock index found some tentative support.
Major data focus of this week is Thursday mornings US Federal Reserve interest rate meeting and accompanying statement.
This will be closely scrutinised for clues on when the Fed might start to taper its extra-ordinary stimulus measures.
The NZD had been hit hard in recent weeks on concerns about slower growth in China, and uncertainty regarding when the US Fed will begin to scale back it’s monetary policy.
Global equity markets were mixed. US indices fell circa 0.6%, while Europe, UK, and the Asia bourses all gained.
Gold prices rose to USD$1390 an ounce overnight.
The NZD opens at 0.8045 USD, 0.8420 AUD, 0.6030 EUR, 0.5115 GBP, & 75.85 JPY.
Westpac Consumer Sentiment is released at 10am.
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Dan Bell is the senior currency strategist at HiFX in Auckland. You can contact him here »
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