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NZD the star performer

Written by Sam Coxhead on January 18th, 2011.      0 comments

9:00AM (NZT) The New Zealand dollar was the star performer in holiday affected markets offshore overnight. The NZD added between .25 and 1.5% against its major trading partners as its food producing status kept it high with investor demand. The EURO gave up some ground after last week's surprisingly strong performance. In the absence of any real economic data, focus was on the EU meeting of Finance Ministers to discuss the possibility of an increased European Financial Stability Facility (EFSF). Germany's attitude and altermate participation remains the key, as it will be providing the bulk of the extra funds. There is no Australasian data today , so all eyes on the Asian equity markets for the lead. The Shanghai Index opened down 2.25% yesterday in the wake of the Chinese increase in the Banks Reserve Requirement Ratio (RRR) that curbs bank lending, easing inflationary pressure.

    Last 24 hours trade
  Current level Low  High
NZD/USD 0.7725 0.7656 0.7749
AUD/USD 0.9942 0.9863 0.9969
NZD/AUD 0.7769 0.7738 0.7783
AUD/NZD 1.2871 1.2843 1.2916
NZD/GBP 0.4863 0.4822 0.4869
NZD/EUR 0.5811 0.5716 0.5825
NZD/JPY 63.89 63.43 61.01
NZD/CAD 0.7625 0.7581 0.7658