The NZD/USD opens around 0.8250 this morning. After finding support around the 0.82 level yesterday the Kiwi grinded higher overnight.
The NZD is at current indicative mid rates: 0.8853 AUD, 0.6133 EUR, 0.5153 GBP, 82.00 JPY, 0.8641 CAD.
US stocks are trading in positive territory this morning with the S&P 500 up 0.45%. Commodities are mixed with oil up 1.07% and gold down 0.69%.
One of the policy makers at the European Central Bank suggested they would consider negative interest rates and ‘money printing’ to offset deflationary risks if needed.
From NZ today we get NZ Manufacturing at 10:30am, Retail Sales at 10:45am and Consumer Confidence this afternoon. The focus tonight will be on new Fed Chair Janet Yellen’s testimony to the US Senate.
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Dan Bell is the senior currency strategist at HiFX in Auckland. You can contact him here »
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