By FX Empire.com
The New Zealand’s dollar, nicknamed Kiwi weakened against most of its 16 major peers as declines in commodity prices and Asian stocks damped demand for riskier assets. Nevertheless, we saw some correction attempts across markets as investors focused on the EU leaders meeting with Papandreou in France that might solve the crisis.
Asian equities fell as Asian markets are pressured amid negative global conditions that threaten the global economy due to the decision by the Greek Prime Minister to call a surprise referendum on the latest terms of the bailout for his country which caught his fellow European politicians, as well as the markets, completely by surprise.
On Thursday eyes will be focused on the most important data this week from New Zealand. The unemployment figures for the third quarter at 21:45 GMT. Unemployment is expected to fall to 6.4% from 6.5% and employment change is expected to rebound with 0.6% after it remained unchanged the previous quarter.
At 12:30 GMT, the U.S. economy will issue the Non-Farm Productivity for the third quarter, where the preliminary reading is expected to come at 2.5% from the prior reading of – 0.7%.
The Unit Labor Costs for the third quarter is expected to come at -0.4% from the previous reading of 3.3%.
At 12:30 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 402 thousand last week.
The U.S. ISM Non-Manufacturing Composite for September will be released at 14:00 GMT, where it’s expected to come at 54.0 from the prior reading of 53.0.
