Bernard Hickey details the key news overnight in 90 seconds at 9 am in association with Bank of New Zealand, including some cheerier news for once from the European Financial Crisis.
The Spanish government managed to sell €6 billion worth of five year bonds at relatively low yields, albeit higher than in previous months. The amount raised was twice as much as expected.
Meanwhile, US jobless claims of 360,000 last week were the lowest in three years, suggesting the US economy is showing some life after threatening to fall back into recession.
Also surveys of manufacturing activity in Philadelphia and New York also showed signs of life.
However, the European crisis is far from over.
International Monetary Fund boss Christine Lagarde said overnight the crisis was escalating and warned of a 1930s slide back into protectionism and isolationism unless countries acted together to halt the decline.
US stocks were up around 0.4% in late trade and European stocks rose around 0.6%.
The New Zealand dollar was solid around 75.5 USc. See our interactive chart below.
Back in New Zealand, Fonterra is expected to announce later today some measures to make milk more accessible in New Zealand, possibly including cheap or free milk in schools.
Also, the Productivity Commission is expected to release its long-awaited report on Housing Affordability at midday. We will have full coverage on our site.
(Updated with more detail, links)
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