The NZD/USD opens around 0.8250 this morning, up over 150 basis points from last week?s lows.
Fonterra Dairy Trade auction this morning has seen average prices up 3.9% from last auction 2 weeks ago.
ANZ Commodity Price Index yesterday showed average commodity prices eased slightly in November but are still up 21.4% from a year ago!
US stock markets have been under pressure overnight with the S&P 500 down 0.52%.
The NZD opens at current indicative levels: 0.9038 AUD, 0.6070 EUR, 0.5032 GBP, 84.40 JPY, 0.8787 CAD.
The RBA left interest rates on hold at 2.5% but continue to say the AUD remains uncomfortably high. NZD/AUD is trading at new 5 year highs this morning.
From NZ we get RBNZ house loan approvals data today. From Australia we get Q3 GDP at 1:30pm.
Email:
-------------------------------------------------------------
Dan Bell is the senior currency strategist at HiFX in Auckland. You can contact him here »
No chart with that title exists.
We welcome your comments below. If you are not already registered, please register to comment.
Remember we welcome robust, respectful and insightful debate. We don't welcome abusive or defamatory comments and will de-register those repeatedly making such comments. Our current comment policy is here.