The NZD/USD pair dropped last week from its highest level in two months, where the greenback was able to cover most of its previous losses against other majors and it recorded gains against the European currencies.
TheNew Zealandeconomy did not release any fundamentals last week, which drove the Kiwi to move depends on the current market sentiment causing a big fluctuation in the pair’s movements.
On the Other hand, the US dollar gets supported from the better than expected data regarding the manufacturing sector in U.S., in addition to the strong performance for the Indian economy and the Chinese manufacturing sector which could support the global demand.
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.
Major highlights for this week that will burden the NZD/USD pair’s trading:
Monday January 09:
On Monday at 21:45 GMT (Sunday),New Zealandwill 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, theU.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.
Tuesday December 10:
On Tuesday at 21:45 GMT (Monday), the New Zealand economy will release the Building Permits for November, where it’s expected to come at 3.0% from the prior reading of 11.2%.
At 23:00 GMT QV House Prices will be up about the New Zealand economy, where the prior reading was 1.7%.
On Tuesday at 15:00 GMT, the U.S.economy will issue the Wholesale Inventories for November, where the previous reading was up by 1.6% and it’s expected to retreat to 0.4%.
Wednesday December 11:
On Wednesday, theU.S.economy will issue the MBA Mortgage Applications at 12:00 GMT, which had a prior reading of – 4.10%.
Thursday December 12:
On Thursday at 00:00 GMT, The New Zealand economy will issue ANZ Commodity Price for December, where the previous reading was down by 1.0%.
TheU.S.economy will release the Advance Retail Sales for December at 13:30 GMT, where the expectations refer to 0.2% the same as the previous reading. The Retail Sales Less Autos is expected to rise to 0.3% from the prior 0.2%.
At 13:30 GMT, U.S. economy will issue its weekly initial claims numbers, where the number of people filing for first-time claims for the state unemployment insurance increased 372 thousand last week.
The U.S. Business Inventories for November will be issued at 15:00 GMT, with a previous reading of 0.8% and the expectations refer to 0.4%. While the Monthly Budget Statement for December will be released at 19:00 GMT, and it’s expected to show a deficit of 79.0 billion.
Friday December 13:
On Friday at 13:30 GMT, theU.S.economy will issue the Import Price Index for December, where it’s expected to drop to 0.1% from the prior reading of 0.7%, while the annual reading had a previous reading of 9.9%.
The U.S. Trade Balance will be up at 13:30 GMT, where it’s expected to show a deficit of $45.0 billion from the prior deficit of $43.5 billion.
At 14:55 GMT, the University of Michigan Confidence for January will be up, where it had a prior reading of 69.9 and it’s expected to up to 70.3.
Originally posted here
