The Opening Bell: Where currencies start for Thursday, June 27, 2013

The Opening Bell: Where currencies start for Thursday, June 27, 2013

By Dan Bell

The NZD/USD opens at 0.7780 this morning having seen a high of 0.7860 overnight.

A weaker than expected US GDP number quelled Fed Tapering concerns for the time being, with the NZD, AUD and equity markets all higher.

Another night of central bank rhetoric saw the ECBs Draghi suggesting that the European situation still requires an accommodative stance, and the Bank of England say it was concerned how the financial system would react to a rise in long term rates.

Stock markets currently: Dow Jones +1.02%, S&P +0.98 %, FTSE +1.04%.

The NZD opens the crosses - 0.8400 AUD, 0.5985 EUR, 0.5085 GBP, 76.15 JPY, 0.8155 CAD.

NZ Trade Balance today at 10.45am – market expectation 412M surplus.

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

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