The NZD/USD pair covered most of its last week losses, where the New Zealand dollar advanced against most of its major counterparts as risk appetite increased with the beginning of the week.
The Germany and France leaders are about to meet in Berlin to discuss a plan for rescuing the EU countries from the toughest sovereign debt crisis. The expected meeting increased confidence in the FX market, and pushed the higher-yielding currencies higher against the greenback and the Japanese yen.
The latest FX market fluctuation proved that the EU sovereign debt crisis still the main theme for investors, and any strong fundamentals about the major economies will not be enough to erase the EU crisis effect.
On Tuesday at 21:45 GMT (Monday), the New Zealand economy will release the Building Permits for November, where it’s expected to come at 3.0% from the prior reading of 11.2%.
At 23:00 GMT QV House Prices will be released where the prior reading was 1.7%.
On Tuesday at 15:00 GMT, the U.S. economy will issue the Wholesale Inventories for November, where the previous reading was up by 1.6% and it’s expected to retreat to 0.4%.
Originally posted here
