By Dan Bell
The NZD/USD pushed to an interbank high of 0.8172 on Friday night before risk aversion had the USD back in favour and the NZD trading as low as 0.8053 this morning.
The Greek debt crisis will be the main focus again this week- over the weekend it was revealed a number of opposition party members in the Greek government will make it difficult for them to pass the austerity measures this week required to receive further bailout funds.
The EUR/USD pushed to a high of 1.43 on Friday night but is under pressure again trading as low as 1.4138 this morning. NZD/EUR has been under pressure this morning after trading over 0.5700 last week.
The AUD/USD continues to trade in line with investor sentiment and is sitting under 1.05 after spiking to 1.06 on Friday night. The NZD/AUD opens in the low 0.7700’s.
Credit rating agency Moody’s put 16 Italian banks on negative outlook highlighting the on going contagion risks in the European periphery.
The NZD/GBP remains close to all time post float highs and NZD/JPY is just under 65.00 this morning.
This morning from NZ we have Trade Balance numbers at 10:45.
Later in the week we have Building Consents and Business Confidence on Thursday.
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Dan Bell is the senior currency strategist at HiFX in Auckland. You can contact him here
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