The Opening Bell: Where currencies start for Monday, November 24, 2014

By Dan Bell

The NZDUSD opens at 0.7880 this morning.

The main event over the weekend was the PBOC unexpectedly announcing a rate cut Friday evening.

Antipodean currencies bounced higher on this news expecting the decision to spur growth and fuel future demand for commodities.

Also helping the Kiwi were dovish comments from ECB’s Draghi which topped out close to the standing resistance at 0.7950 before tracking back down to current levels.

China Cuts Interest Rates For First Time Since 2012 

Dollar Near 2-Year High Versus Euro As Draghi Talks Tough On Deflation 

Global equity markets mainly up on the day – Dow +0.5%, Nikkei +0.3%, Shanghai +1.4% FTSE+1.8%, DAX +2.6%.

Gold prices finished up +0.6% at USD$1,201. Oil also finished up +0.5%.

The current indicative mid-rates are:

NZDUSD           0.7870
NZDEUR           0.6370
NZDGBP           0.5030
NZDJPY              92.90
NZDAUD           0.9080
NZDCAD           0.8850

New Zealand Visitor Arrivals m/m 10:45 am this morning.

German Ifo Business Climate results later this evening.

----------------------------------------------------------

To subscribe to our free daily Currency Rate Sheet and News email, enter your email address here.

Email:   

----------------------------------------------------------

Dan Bell is the senior currency strategist at HiFX in Auckland. You can contact him here »

Daily exchange rates

Select chart tabs »
The 'US$' chart will be drawn here.
Loading...
Daily benchmark rate
Source: RBNZ
The 'AU$' chart will be drawn here.
Loading...
Daily benchmark rate
Source: RBNZ
The 'TWI' chart will be drawn here.
Loading...
Daily benchmark rate
Source: RBNZ
The '¥en' chart will be drawn here.
Loading...
Daily benchmark rate
Source: RBNZ
The '¥uan' chart will be drawn here.
Loading...
Daily benchmark rate
Source: RBNZ
The '€uro' chart will be drawn here.
Loading...
Daily benchmark rate
Source: RBNZ
The 'GBP' chart will be drawn here.
Loading...
Daily benchmark rate
Source: RBNZ
The 'Bitcoin' chart will be drawn here.
Loading...
USD 
NZD
End of day UTC
Source: CoinDesk

We welcome your help to improve our coverage of this issue. Any examples or experiences to relate? Any links to other news, data or research to shed more light on this? Any insight or views on what might happen next or what should happen next? Any errors to correct?

We welcome your comments below. If you are not already registered, please register to comment or click on the "Register" link below a comment.

Remember we welcome robust, respectful and insightful debate. We don't welcome abusive or defamatory comments and will de-register those repeatedly making such comments. Our current Comment policy is here.