By ForexMansion.com
The New Zealand’s currency increased versus the U.S. dollar and the Australian dollar, as commodities prices gained which account for the majority of the nation’s shipments, and Asian stocks extended a worldwide rally.
Moreover, the Kiwi continued its upside movement following last week’s gains, as reports showed that China’s manufacturing expanded at a faster pace last month and U.S. payrolls rose more than forecast, encouraging investors to seek riskier assets.
At the meantime, expectations indicated that the Chinese demand on New Zealand products will increase, thus raising the demand for the nation’s currency, which helped the Kiwi to incline against other majors.
The New Zealand economy won’t release any fundamental data on Tuesday, At mean time, the US economy will present its ISM Non-manufacturing index for March at 14:00 GMT, while the prior reading released with an actual 59.7; note this index shows the business conditions in the US non-manufacturing sector, so the traders are very caring for it. While the Federal Open Market Committee (FOMC) to issue its minutes at 18:00 GMT.
Originally posted here
