The NZDUSD opens at 0.8280 this morning.
The NZDUSD rallied strongly, as the USD weakened, after disappointing US non-farm payroll employment numbers. The NZDUSD traded to a high of 0.8295 consequently.
The US jobs figures may have been negatively impacted by the weather, and is unlikely to alter the Federal Reserves path of steady reductions of their bond-purchasing program.
There is not much in the way of significant local data this week.
The new US Fed Chairman Janet Yellen will testify on the Semiannual Monetary Policy Report early Tuesday morning (NZ time). Yellen will give the Fed's views on the US economy, and on the likely path of monetary policy - this event will be closely watched by the financial markets.
Global equity markets were higher on the day - Dow +1.1%, Nikkei +1.7%, Shanghai +0.5%, FTSE +0.2%, DAX +0.5%
The Gold Price rose 0.7% to USD$1266 an ounce. Oil prices jumped 2.2%.
The NZD opens at 0.8280 USD, 0.9245 AUD, 0.9140 CAD, 0.6080 EUR, 0.5045 GBP, & 84.85 JPY.
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Dan Bell is the senior currency strategist at HiFX in Auckland. You can contact him here »
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