By FX Empire.com
The NZD/USD pair dropped to its lowest level in six weeks, as risk aversion pushed investors to abandon higher-yielding currencies which pushed the Kiwi to the downside.
The US dollar gained against most of its major counterparts due to the pessimistic sentiment in the financial market as the EU debt crisis fueled fears regarding the global economy outlook.
We started to see some signs of relief after news that the ECB is buying bonds yet overall the tension remains evident on markets.
On Thursday at 21:45 GMT (Wednesday), the N.Z. economy will release the Producer Prices- Inputs for the third quarter, where it had a prior reading of 0.9%, while the Producer Prices- Outputs had a previous reading of 1.4%.
The U.S. data will start at 13:30 GMT with the housing starts for October which is expected to drop to 610 thousand from 658 thousand and Building Permits on the other hand to rise to 600 thousand from 594 thousand.
At the same time we have the weekly jobless claims for the week ending November 11 after last week they unexpectedly declined to 390 thousand.
The data will end with the Philadelphia Fed Index for November at 15:00 GMT which is expected to improve to 10.0 from 8.7.
Originally posted here
