The NZD/USD pair dropped last week after the risk aversion returned to control the FX market, where the US dollar soared against other majors causing the pair to retreat.
The NZD/USD pair could witness further losses since risk aversion returned to control the market sentiment, besides the strong performance from the greenback against the European currencies amid the ongoing EU debt crisis.
On Monday at 21:45 GMT (Sunday), New Zealand will issue Trade Balance for November, where it’s expected to show a deficit of 289 million from the previous deficit of 282 million.
The Exports for November is expected to come at 3.90 billion from 3.88, while the Imports are expected to come at 4.18 billion from the previous reading of 4.16 billion.
As for the New Zealand Trade Balance for November, it will be up at 21:45 GMT, where it showed a previous surplus of 627 and it’s expected to come at 577.
On Monday at 20:00 GMT, the U.S. economy will release the Consumer Credit for November, where it’s expected to come at $7.00 billion from the prior reading of $7.645 billion.
Originally posted here
