Tuesday, February 16, 2010

New Zealand Dollar

New Zealand Dollar: The Kiwi gained just over 0.5% against the USD during offshore trade peaking at 0.6988. New Zealand’s Performance Services index, though not as high as last month’s 54.4, was still in the green at 53.1 for January. Investor enthusiasm dampened during the US session and the Kiwi fell amid concerns over sovereign debt problems which continue to plague Greece and other European nations sapped the market’s appetite for higher yielding assets. The Kiwi opens higher at 0.6975 USD head of positive expectations for today’s PPI figures.

- We expect a range today in the NZD/USD rate of 0.6950 to 0.7015

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