The NZDUSD opens 0.8678 after trading as low as 0.8630 overnight.
The stronger than expected US Retail Sales (+1.1% v+0.8%) coupled with Citigroup's positive Q1 earnings report saw equity markets rebound from Friday's sharp selloff, with risk currencies also benefiting.
Global equity markets,- Dow +0.91%, Nikkei -0.36%, Shanghai +0.05%, FTSE +0.34%, DAX +0.26%
Gold prices rose to a three week high ( $1,327.10 ) while Oil prices remained strong up 31cents to $104.05 a barrel.
There are no NZ data releases today, with the RBA minutes due out at 1:30pm.
Tonight's highlight is likely to be Fed Chair Yellen's speech, the market looking for clarification regarding her earlier remark that tightening could star six months after tapering ends.
US data is also worth watching - CPI, NY manufacturing activity, and homebuilder sentiment.
The current indicative mid-rates are,
NZDUSD 0.8678
NZDEUR 0.6280
NZDGBP 0.5190
NZDJPY 88.31
NZDAUD 0.9215
NZDCAD 0.9512
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Dan Bell is the senior currency strategist at HiFX in Auckland. You can contact him here »
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