The NZD/USD opens around 0.8190 this morning after a quiet night across global markets.
US stock markets continue to push higher with the S&P 500 up 0.1% to record highs. The Nasdaq technology Index rose above the 4,000 level for the first time in 13 years and is up 33% this year....and we think Auckland property prices look bubbly!
The yield on the 10 year Treasury note moved slightly lower to 2.74%. Commodities are mixed with oil prices down 0.59% while gold prices are slightly stronger up 0.15%.
US Pending Home Sales were weaker than expected casting some doubts about the US housing market recovery.
The NZD continues to trend higher against the AUD hitting an interbank high of 0.8980 overnight.
Against the other major cross rates the NZD opens at 0.6066 EUR, 0.5080 GBP, 83.41 JPY, 0.8639 CAD.
Nothing to report on the local front today. From Australia Dep Gov Lowe is speaking around 11:15am NZT.
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Dan Bell is the senior currency strategist at HiFX in Auckland. You can contact him here »
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