By FX Empire.com
Still the New Zealand dollar moves in a tight range as the market has reversed its upside movement to the downside after Germany indicated that Europe will not bring a final cure in the coming summit as markets expect.
Furthermore, the New Zealand dollar strengthened as traders bet Bollard will consider unwinding a 50 basis-point emergency cut made in March to help cushion the economy from the quake’s fallout, yet the currency was still pressured for a third day as Asian stocks extended a global slump.
On Wednesday, the New Zealand economy won’t release any fundamental data but the U.S. economy will issue the Consumer Price Index for September at 12:30 GMT, where it’s expected to come at 0.3% from the previous reading of 0.4%, as for the annual Consumer Price Index it’s expected to hold at 3.8%.
The U.S. Housing Starts for September will be released as well at 12:30 GMT with and expected to rise to 595 thousand by 3.9% from the previous 571 thousand. The Building Permits on the other hand are expected with a drop by 2.4% to 610 from 620 thousand.
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