The NZDUSD opens this morning at 0.8626.
After trading to a low of 0.8580 following yesterdays mixed Chinese Data the NZD has bounced back with the market still believing the RBNZ will raise the OCR by .25 basis points next Thursday. With the Easter holiday break looming it is difficult to see the NZDUSD trading outside of its recent 0.8550-0.8700 range.
Equity markets have had a strong night led by the FTSE (following a very strong UK employment number) and better than expected US Industrial Production Data. FTSE +0.65% ,DAX +1.57%, Nikkei +3.01%, S&P +1.05%, Dow +1.00%
Gold prices are still holding above $1,300 while Oil prices were up slightly to close at $104.79 a barrel.
There are no domestic data releases today.
The current indicative mid-rates are,
NZDUSD 0.8626
NZDEUR 0.6245
NZDGBP 0.5136
NZDJPY 88.024
NZDAUD 0.9208
NZDCAD 0.9405
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Dan Bell is the senior currency strategist at HiFX in Auckland. You can contact him here »
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