The NZDUSD opens higher at 0.8235 this morning.
The NZD rallied overnight on improved global risk appetite and a weaker USD.
Expectations that heavily-indebted Ukraine would receive aid from Western donor nations, and speculation that Vodafone may become a bid target, helped spark a move higher in equity prices - the US S&P500 index climbed to an all-time high.
In other news, the European Central Bank will consider cutting interest rates into negative territory if needed, while the rise in home prices in China eased for the first time in 14 months is casting fresh doubts over the strength its economy. US Service PMI figures disappointed.
Global equity markets were mostly higher on the day - Dow +1.1%, Nikkei -0.2%, Shanghai -2.2%, FTSE +0.4%, DAX +0.5%
Gold prices rose 0.9% to USD$1337. Oil prices climbed 0.9%.
The NZD opens at 0.8335 USD, 0.9225 AUD, 0.9225 CAD, 0.6070 EUR, 0.5005 GBP, & 85.45 JPY.
NZ Quarterly Inflation Expectations will be released at 3:00pm.
US Consumer Confidence & US House Price Index hit the tapes tonight.
----------------------------------------------------------
To subscribe to our free daily Currency Rate Sheet and News email, enter your email address here.
----------------------------------------------------------
Dan Bell is the senior currency strategist at HiFX in Auckland. You can contact him here »
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.