The NZDUSD opens higher at 0.7375 this morning.
The NZD found some support yesterday after falling sharply Friday night on the release of the strong US employment report which has bolstered expectations the US Fed will begin to raise interest rates later this year.
Overnight the European Central Bank began its € 1 trillion bond-buying programme, which is aimed at sparking inflation and growth in the euro-zone.
Meanwhile euro-zone finance minister met to discuss Greece’s financial reforms and urged Athens to re-start its bailout discussions.
The GBP hit a 7-year high against the EUR.
Global equity markets were mixed on the day – Dow +0.9%, Nikkei -1.0%, Shanghai +1.7%, FTSE-0.5%, DAX +0.3%
Gold prices were flat at USD$1,167. Oil prices (Brent crude) fell 1.6% to USD$58.78 per barrel.
The current indicative mid-rates are:
NZDUSD 0.7375
NZDEUR 0.6790
NZDGBP 0.4875
NZDJPY 89.40
NZDAUD 0.9560
NZDCAD 0.9285
There is no data release scheduled on the domestic calendar today.
Australian Business Confidence figures and Chinese Inflation numbers hit the tapes 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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