The NZD/USD opens around 0.8340 this morning, down 2 cents from highs earlier this week.
Not much to report from global markets overnight. US stocks are marginally stronger with the S&P 500 currently up 0.3%. Commodities are up slightly with oil +0.23% and gold up 0.96%.
In an interview on Radio NZ this morning, RBNZ Governor Graeme Wheeler said he is seeing signs that mortgage restrictions introduced earlier this month are helping to cool the overheated housing market.
While the market is pricing in a 70% chance of a rate hike in March, a continued slowdown in house prices may well delay this as the central bank looks to balance the risks this would have on the NZD.
The NZD opens at 0.8670 AUD, 0.5154 GBP, 0.6050 EUR, 81.21 JPY, 0.8703 CAD.
Not much to report on the local front today. From the US we get Core Durable Goods and Consumer Confidence which will be closely watched.
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Dan Bell is the senior currency strategist at HiFX in Auckland. You can contact him here »
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