The New Zealand dollar increased against the US dollar on speculation the Reserve Bank of New Zealand will increase the benchmark interest by 42 basis points over the next 12 months, while New Zealand dollar touched 66.099 yen, the highest level since May.
Meanwhile, the New Zealand currency ended its three days of gains versus the Australian dollar after Auckland-based Fonterra Cooperative Group Ltd., the world’s largest dairy exporter, said whole milk powder prices fell to a two-month low at the latest auction, supporting the pair’s downside movement.
On Thursday, the New Zealand economy won’t release any fundamental data, but the US economy will present its crud oil inventories.
On the other hand, the US economy will issue its initial jobless claims that expected to retreat to 385,000,000 on April 2 from 388,000,000 a week before, which is a measure of the number of people filing first-time claims for state unemployment insurance.
Originally posted here
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