By FX Empire.com
The New Zealand dollar soared against all major counterparts, while it gained sharply versus the US dollar after Reserve Bank Governor Alan Bollard held interest rates at a record low and signaled borrowing costs may need to rise as the domestic economy rebounds next year.
In the meantime, the investors increased demand for the New Zealand currency as the market sentiment improved after European leaders agreed to leverage the EFSF to one trillion euros and also agreed to a voluntary write-down of 50% on Greek debt.
On Friday, the U.S. Personal Income for September will be released at 12:30 GMT and it’s expected to come at 0.3% from the previous -0.1%, the Personal Spending Index had a prior reading of 0.2% and expected to come at 0.6%.
The Core PCE for September had a previous reading of 1.6% and expected to rise to 1.8%.
The University of Michigan Confidence will be released at 13:55 GMT, where it’s expected to come at 57.8 from the previous reading of 57.5.
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