By FX Empire.com
The NZD/USD pair advanced early Thursday from its lowest level in eight months, as the greenback lost momentum against other major currencies which opened the way for the Kiwi to cover some of its previous losses.
On the other hand, New Zealand’s trade deficit narrowed unexpectedly during October to NZ$282 million from September deficit of NZ$751 million.
The good trade data helped the Kiwi to gain more ground against the US dollar, where current correction helped higher-yielding currencies to record some gains.
However, the market sentiment did not change which means the general trend for the NZD/USD pair is still to the downside.
On Friday both economies will not release any fundamentals, where the pair will move depending on the market sentiment. Trading will remain choppy and with volatility after the US was out of the market on Thursday and Friday will be an early closing day leaving the market with low trading volume and increase the chance for fluctuations.
Originally posted here
