The NZD/USD opens at 0.8370 this morning after running out of momentum last night at interbank highs around 0.8430.
Global markets were stunned yesterday morning after the US Federal Reserve announced no change to their stimulus program which saw the US Dollar under significant selling pressure.
The US printed better than expected data overnight- Philly Fed Index at 30 month highs and Existing Home sales at 6 year highs but US stocks closed mostly lower with the Dow Jones Index down 0.26% and the S&P 500 off 0.18%.
The NZD opens at 0.8860 AUD, 0.6180 EUR, 0.5220 GBP, 83.20 JPY, 0.8595 CAD.
From NZ we get Visitor Arrivals at 10:45am.
Tonight we see Fed members speaking at various events. US monetary policy remains the key driver of global currencies so these comments will be closely monitored.
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Dan Bell is the senior currency strategist at HiFX in Auckland. You can contact him here »
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