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.

Email:

 

-------------------------------------------------------------

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

We welcome your help to improve our coverage of this issue. Any examples or experiences to relate? Any links to other news, data or research to shed more light on this? Any insight or views on what might happen next or what should happen next? Any errors to correct?

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.

Your access to our unique content is free - always has been. But ad revenues are diving so we need your direct support.

Become a supporter

Thanks, I'm already a supporter.