By FX Empire.com
New Zealand’s dollar extended the gains for the second day against the American dollar before European Union leaders hold a meeting on October 23 to discuss the comprehensive plan to contain the region’s debt crisis.
The New Zealand dollar also advanced as stock gains boosted demand for the currencies of commodity exporters, along with the cheerful data from the Chinese economy, where China’ industrial production continued to accelerate, adding that New Zealand products will increase this period because the Chinese market is the largest market for New Zealand goods.
Meanwhile, the New Zealand economy gives some signs of picking up as rising consumer spending and employment add to evidence the nation’s economy is expanding modestly, buoyed by record-low interest rates and a surge in commodity prices
On Thursday at 21:45 GMT (Wednesday) NZD net migration S.A. is expected to increase in September after it inclined to 200 in August.
On Thursday 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 404 thousand last week.
The Leading Indicators for September will released at 14:00 GMT and expected to slow to 0.2% from 0.3%. The Philadelphia Fed index is also due at 14:00 GMT and expected to improve to -9.5 from -17.5.
As for the Existing Home Sales for September it’s expected with a drop of 2.65% to 4.91 million from 5.03 million.
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