The NZDUSD opens higher at 0.8100 this morning.
The NZD took a short, sharp dip to 0.8055 Friday afternoon after news of the Wellington/Seddon earthquake filtered through.
However, it was soon shrugged off and the NZDUSD moved to 1-month high above 0.8100 that night.
US Consumer Confidence, Building Permits, and Philly Fed Manufacturing Index all disappointed Friday night. Speculative long USD positions were deduced, which helped to nudge the NZD higher.
Global equity markets mixed – Dow -0.2%, Nikkei -0.75%, Shanghai -0.75%, FTSE +0.3%, DAX +0.2%
The Gold Price rose circa 1% to USD$1375 an ounce – it has posted its biggest weekly gain in 5-weeks. Oil gained 0.7%, and base metal prices gained on the day.
The NZD opens at 0.8100 USD, 0.8810 AUD, 0.6070 EUR, 0.5185GBP, & 79.00 JPY.
NZ quarterly PPI (Producer Price Index) will be released at 10:45am. It is a light week on the domestic data front.
Australian Monetary Policy Minutes hit the tapes 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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