The NZD/USD opens around 0.8210 this morning after a quiet evening across global currency markets.
US stocks are trading in negative territory with the S&P 500 down 0.39%. Commodities are mixed with gold prices down 1.31% and oil prices up 0.46%.
US gross domestic product grew at a 3.6% annual rate in the third quarter, an upward revision from an earlier 2.8% estimate and the strongest growth rate since the first quarter of 2012 giving investors more reason to see the Fed begin tapering soon.
The ECB kept interest rates unchanged at 0.25% overnight and made no significant changes to their statement.
The NZD opens at current indicative mid rates: 0.9056 AUD, 0.6008 EUR, 0.5029 GBP, 83.54 JPY, 0.8750 CAD.
Not much to report on the local front today. The focus this evening will be on the US Employment Report which is expected to show an increase of 185K new jobs in Nov. Anything more than this will see the US Dollar strengthen as investor's position for an earlier Fed taper.
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Dan Bell is the senior currency strategist at HiFX in Auckland. You can contact him here »
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