The The NZDUSD opens at 0.8145 this morning.
The NZD/USD has opened 25 pips higher after Prime Minister John Key secured New Zealand's first majority government in almost 20 years.
The NZDUSD had traded to a low of 0.8109 and closed the week at 0.8120.
This week we have Fonterra's financial result for the year ended 31 July with profit expected to be about $0.5 billion less then it earned the year before.
The market was also expecting Fonterra to revise down its forecast payout to farmers from $6 per kilo of milk solids to somewhere between $5 and $5.50.
Global equity markets closed the week slightly higher - Dow +0.08%, Nikkei +1.58%, Shanghai +0.58%, FTSE +0.27% DAX -0.01%
Gold posts its third straight weekly loss closing at an eight-month low $1,215 Oil also fell 0.36% to close at $91.77
The current indicative mid-rates are:
NZDUSD 0.8145
NZDEUR 0.6355
NZDGBP 0.5000
NZDJPY 88.97
NZDAUD 0.9125
NZDCAD 0.8948
Today we have the Westpac Consumer Sentiment numbers hitting the tapes at 10:00am.
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Dan Bell is the senior currency strategist at HiFX in Auckland. You can contact him here »
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