By Dan Bell
The NZD/USD slipped lower overnight to a low of 0.8080 as the Dow Jones slid on risk aversion before bouncing back to 0.8150 here on the latest Greek headlines
Markets regained some losses on the news that Greece has agreed to a five-year austerity package with the EU and IMF ... the see-saw continues as details are still to be voted on and approved by the Greeks
Global equity markets have had a mixed night as a result, with the Dow was off 2%, currently sitting at -0.5%, just above the 12,000 mark. The Nasdaq was off -1.4% before bouncing back to a current gain of 0.8%
Commodities had a wild night – Oil saw a 5% fall as the International Energy Agency said it will release 60mil barrels in the next month – and Gold was down -2% at one point, it’s lowest daily fall since May
NZD/AUD respected resistance at 0.7750, NZD/EUR has pushed higher while NZD/GBP threatened 0.5100 again, just under that at the moment.
No chart with that title exists.
-------------
Dan Bell is the senior currency strategist at HiFX in Auckland. You can contact him here
We welcome your comments below. If you are not already registered, please register to 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.