The NZD/USD opens around 0.8240 after trading to lows around 0.8210 on Friday night.
Global markets had a relatively quiet finish to the week with the S&P 500 up 0.29%.
The US Dollar has been stronger against most major currencies. Data from the US has been better than expected which has reduced some of the concerns about the impact of recent fiscal challenges. The focus in the US this week will be on their Employment Report on Friday night.
The EUR has been under pressure as the market anticipates potential loosening in monetary policy from the ECB this week.
The NZD opens at current indicative mid rates: 0.8740 AUD, 0.6117 EUR, 0.5180 GBP, 81.44 JPY, 1.1424 NZD, 0.8593 CAD.
From NZ we get the ANZ Commodity Price Index at 1pm. The focus on the local front this week will be Q3 employment data on Thursday. In Australia we get Retail Sales at 1:30pm today, RBA tomorrow and employment data on Thursday.
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Dan Bell is the senior currency strategist at HiFX in Auckland. You can contact him here »
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