The NZD/USD opens at 0.7970, having drifted slightly higher after another quiet night in markets.
US existing home sales came in at -1.2%, 5.08M vs 5.27M, which surprised after fairly robust pending sales figures of late.
Portugal has announced that there will be no early election after President Silva’s endorsement of the coalition – helping the road back to normal market access in 2014 after the bailout.
Stock markets currently: Dow Jones +0.01%, S&P +0.20 %, FTSE -0.11%.
The NZD opens the crosses - 0.8600 AUD, 0.6040 EUR, 0.5185 GBP, 79.25 JPY, 0.8230 CAD.
No domestic data today – NZ Trade Balance and Australian CPI numbers 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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