By FX Empire.com
The NZD/USD pair lost more ground last week where the Kiwi continued its downside movement against the US dollar due to risk aversion that controlled the financial market.
The NZD/USD pair is to record more losses during the upcoming period, as the current market sentiment in addition to the slowdown in top economies are increasing fears between traders and driving them to safe assets.
On the other hand, the EU debt crisis still has its negative effect on the financial market and on other economies, which fuels fears over the global economic outlook and driving investors to abandon higher-yielding currencies.
On Monday at 15:00 GMT, the U.S. economy will release the Existing Home Sales for October, where it’s expected to come at 4.80 million down by 2.2% from the previous reading of 4.91 million which is down by 3.0%.
Originally posted here
