The NZDUSD opens at 0.8705 this morning.
The NZD drifted in a tight range as the VIX (a volatility index) remains around 2007 lows.
Despite continuing geopolitical tensions in Iraq and Ukraine, the USD and global risk aversion was little moved and trading volume was light. More interest in the World Cup than in the financial markets.
The GBP neared 5 1/2 highs against the USD, but remains within recent ranges against the NZD.
There is not a lot on the domestic data calendar this week - Friday's NZ Trade Balance being the most significant.
Global equity markets were mixed on the day - Dow +0.2%, Nikkei -0.1%, Shanghai +0.5%, FTSE +0.3%, DAX -0.2%
Gold prices gave up some of the recent gains to open at USD$1314. Oil prices fell 0.2%.
The current indicative mid-rates are:
NZDUSD 0.8705
NZDEUR 0.6400
NZDGBP 0.5115
NZDJPY 88.85
NZDAUD 0.9280
NZDCAD 0.9360
NZ Visitor Arrivals numbers hits the tapes at 10:45am, followed by Credit Card Spending at 3pm.
Chinese manufacturing data will be released at 1:45pm.
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Dan Bell is the senior currency strategist at HiFX in Auckland. You can contact him here »
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