The NZD/USD opens around 0.8060 this morning after a relatively quiet range on Friday night.
The NZD opens at current indicative levels against the other major cross rates: 0.8717 AUD, 0.6072 EUR, 0.5245 GBP, 79.14 JPY, 0.8292 CAD.
US stocks had a quiet session with the S&P 500 finishing up 0.08%. Commodities had a mixed session with oil down 0.95% but gold up 0.34%.
Recent strength in the NZD looks set to continue for the time being as reaction to Fed tapering diminishes. However we still think this will come back into focus soon which will support the US Dollar again.
From NZ we get Building Approvals and Business Confidence numbers this week.
It’s a big week offshore with the US Fed on Thursday morning followed by the BoE and ECB that evening and the big one on Friday night the US Employment Report.
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Dan Bell is the senior currency strategist at HiFX in Auckland. You can contact him here »
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