The NZDUSD opens at 0.8625 this morning.
The EUR has dropped sharply and USD rallied after European Central Bank chief Mario Draghi warned that the EUR's strength was of serious concern.
The ECB is comfortable adding to monetary stimulus to support economic growth and boost inflation which is dangerously close to be deflation.
NZ Retail Sales hit the tapes on Wednesday, followed by The Budget on Thursday which is expected to be "boringly positive."
Chaos continues in eastern Ukraine as voting in the independence referendum goes ahead, despite the EU declaring the vote illegal.
Global equity markets were mixed on the day - Dow +0.2%, Nikkei +0.3%, Shanghai -0.1%, FTSE -0.4%, DAX -0.3%
Gold prices dropped by 0.1% to USD$1289. Oil prices fell 0.2%.
The current indicative mid-rates are:
NZDUSD 0.8625
NZDEUR 0.6270
NZDGBP 0.5120
NZDJPY 87.85
NZDAUD 0.9215
NZDCAD 0.9400
Real Estate Institute House Price Index figures are tentatively scheduled for release today.
Australian NAB Business Confidence figures will be released at 1:30pm. There is some Fed-speak and Federal Budget scheduled tonight from the US.
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Dan Bell is the senior currency strategist at HiFX in Auckland. You can contact him here »
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