The NZDUSD opens higher at 0.8375 this morning.
Euro-zone growth numbers exceeded forecasts. This pushed the EUR towards a 3-week high against the USD, which suffer due to more disappointing US economic data. The NZD was dragged higher in the process.
US economic data has been negatively affected by the very harsh winter, which has weighed upon the USD.
The GBP rose to a 5-year high against a basket of currencies.
Global equity markets were mostly higher on the day - Dow +0.8%, Nikkei -1.5%, Shanghai +0.7%, FTSE +0.0%, DAX +0.7%
Gold prices traded to a fresh 3-month high of USD$1318, having notched its biggest weekly gain in 6-months. Oil prices gained 0.5%.
The NZD opens at 0.8375 USD, 0.9255 AUD, 0.9210 CAD, 0.6115 EUR, 0.5000 GBP, & 85.20 JPY.
NZ Retail Sales will be released at 10:45am today. This is the most significant data on the local calendar this week.
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Dan Bell is the senior currency strategist at HiFX in Auckland. You can contact him here »
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