The NZD/USD pair retreated last week as the current EU debt crisis and the uncertainty regarding the New Zealand economy reduced demand for the Kiwi against the dollar.
On the hand, the Chinese purchasing manager index (PMI) during October showed some weakness, which could reduce demand for New Zealand’s currency, where the Chinese market is the largest for NZ’s products.
The greenback advanced against the Kiwi after the FOMC decision, where investors decided to give the US dollar another chance until the U.S. officials give a clear decision regarding the third round of quantitative easing.
The U.S. economy will release the Consumer Credit for September at 19:00 GMT, where it’s expected to come at $5.00 billion from the previous reading of – $9.501 billion.
