By Dan Bell
The NZD/USD made another new post float high of 0.8672 on Friday night and opens over 0.8600 this morning.
The markets focus remains on US debt ceiling tensions with the US congress yet to reach a deal as the 2nd August deadline looms.
Most commodity and equity markets firmed on Friday night with the CRB Index up 0.77% while most European bourses finished up (average 0.5%), the US was more mixed with the S&P 500 up 0.1% but the Dow Jones down 0.34%.
The NZD remains firm against the major cross rates and opens around 0.7950 AUD, 0.5995 EUR, 0.5280 GBP, 67.40 JPY.
We have a raft of local economic announcements this week with Trade Balance numbers tomorrow, Business Confidence on Wednesday, and the RBNZ 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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