The NZD/USD opens at 0.8280 having dipped below 0.8250 yesterday.
Yesterday's poor PPI number surprised market participants, and along with disappointing Chinese PMI numbers we saw the NZD trade lower, but it has clawed back most of the losses as one of the most resilient currencies overnight.
US data had the opportunity to move the market last night, but both CPI and Unemployment Claims came in as expected, hence the lack of significant movement.
Stock markets currently: Dow Jones +0.60%, S&P +0.59%, FTSE +0.24%.
The NZD opens the crosses - 0.9220 AUD, 0.6045 EUR, 0.4975 GBP, 84.80 JPY, 0.9200 CAD.
No local or Australian data to be released today - Bank of Japan Monetary Policy Minutes at 12.50pm.
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Dan Bell is the senior currency strategist at HiFX in Auckland. You can contact him here »
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