The Opening Bell: Where currencies start for Friday, December 20, 2013

The Opening Bell: Where currencies start for Friday, December 20, 2013

By Dan Bell

The NZD/USD opens around 0.8170 this morning after trading to interbank lows around 0.8152.

Yesterday's FOMC decision has seen a stronger US Dollar over the last 24 hours.

Gold has been hammered overnight losing over 3% and is trading at its lowest level in more than 3 years at 1,195.

US stocks are mixed with the S&P 500 currently down 0.06%. US bond yields are up with the 10 year treasury yield at 2.94%.

The NZD opens at current indicative levels: 0.9229 AUD, 0.5985 EUR, 0.4991 GBP, 85.14 JPY, and 0.8720 CAD.

Q3 GDP from NZ yesterday was better than expected at 1.4% q/q vs. exp 1.1%. The market is now pricing in a 50% chance the RBNZ hike the OCR by 25 bps in January 2014.

From NZ we get migration data at 10:45am. The Bank of Japan announces monetary policy this afternoon.




Dan Bell is the senior currency strategist at HiFX in Auckland. You can contact him here »

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