The NZDUSD opens at 0.8660 this morning.
The NZDUSD neared 0.8700 on Friday after comments from a Chinese official indicated that Beijing was ready to implement further stimulus to support their cooling economy.
However, the NZD could not hold the gains after encouraging data was released from the US (Personal Consumption & Consumer Sentiment showed improvement compared with the prior month).
There is not much to note on the domestic data calendar this week. The major focus will be on Friday night's all -important US non-farm payrolls employment data. Strong numbers here should see the USD strengthen, with the opposite occurring on weak figures.
The Reserve Bank of Australia has an interest rate decision tomorrow - rates are expected to remain at 2.5%, but they may discuss the recent AUD strength.
Global equity markets were higher on the day - Dow +0.4%, Nikkei +0.5%, Shanghai -0.2%, FTSE +0.4%, DAX +1.4%
Gold prices fell to USD$1,293 - near a 7 week low. Oil prices gained 0.2%.
NZ Building Consents will be released at 10:45am, followed by ANZ Business Confidence numbers at 1:00pm.
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Dan Bell is the senior currency strategist at HiFX in Auckland. You can contact him here »
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