The NZDUSD opens lower at 0.8485 this morning.
The NZDUSD traded to a high of 0.8529 before encountering further selling pressure as the EURUSD traded back below 1.3600 after peaking at 1.3665.
The USD gains appear to be on the back of last week's sturdy U.S. jobs report, with bids supported by higher U.S. government bond yields compared to those of their European counterparts.
Global equity markets are slightly higher - Dow +0.07%, Nikkei +0.31%, Shanghai +003%, FTSE +024%, DAX +0.21%
Gold prices are little changed at USD$1292.
The current indicative mid-rates are:
NZDUSD 0.8483
NZDEUR 0.6243
NZDGBP 0.5051
NZDJPY 87.00
NZDAUD 0.9075
NZDCAD 0.9256
Today's Announcements:
NZ's Manufacturing Sales q/q hitting the tapes at 10:45
CNY CPI y/y later this afternoon.
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Dan Bell is the senior currency strategist at HiFX in Auckland. You can contact him here »
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