The New Zealand dollar may rise this week, as equity markets recover from a three-week selloff following the US credit rating downgrade.

Finance Minister Bill English has acknowledged there is little he can do to stop shares from partial floats of state-owned enterprises ultimately ending up in foreign hands.

The New Zealand sharemarket has risen strongly in early trade, with the benchmark NZX-50 up 1.8 per cent.

The New Zealand dollar rose back above 83 US cents this morning, as global equity markets rebounded strongly for the second time this week.

World share markets are up again, after a good earnings report from Cisco and a positive US jobs report.

The New Zealand dollar dropped almost 2 US cents amid speculation that France would be the next country to have its credit rating downgraded.

The New Zealand sharemarket has recovered from two days of falls, but the NZ dollar fell back from an initial rebound.

Global turmoil in global markets means the next OCR hike is now likely to be December, not September, say a growing number of bank ecnomists.

The New Zealand stock exchange is soaring ahead this morning, with the benchmark NZX-50 up nearly 4 per cent in early trading.

Trade Minister will be under pressure in Beijing to live up to the terms of the FTA.

The New Zealand dollar rose above 83 US cents after US equity markets snapped their slide on the back of a commitment from the Federal Reserve that it would keep interest rates near zero for at least two years to stimulate the ailing American economy.