By Dan Bell
The NZD/USD opens at 0.8215 this morning following most currencies higher against the US Dollar.
The ‘risk on’ move started yesterday morning after Moody’s kept Spain’s sovereign credit rating at Investment Grade when many where expecting it to be cut to junk status.
This led to a surge in the EUR/USD to over 1 month highs over 1.31.
The NZD opens at current indicative mid rates: 0.7915 AUD, 0.6262 EUR, 0.5090 GBP, 64.90 JPY, and 0.8030 CAD.
US Housing Starts data came in at a 4 year high overnight adding to the recent run of positive US data.
US stocks are currently trading higher on the day with the S&P 500 up 0.46%.
The focus today will be on China data which includes GDP, Industrial Production and Retail Sales released at 3pm NZT. The latest EU Summit kicks off tonight.
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Dan Bell is the senior currency strategist at HiFX in Auckland. You can contact him here
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