The NZD/USD pair dropped early Thursday from its highest level in two months, as the US dollar was able to maintain its gains against the European currencies, adding more support for the Federal currency against other majors.
On the other hand, the New Zealand dollar dropped after the Chinese CPI data, which came slightly lower than the prior reading, where the current inflation level in China is still adding more pressure on the monetary policy makers, preventing them from focusing on the economic growth.
On Friday at 13:30 GMT, the U.S. economy will issue the Import Price Index for December, where it’s expected to drop to 0.1% from the prior reading of 0.7%, while the annual reading had a previous reading of 9.9%.
The U.S. Trade Balance will be up at 13:30 GMT, where it’s expected to show a deficit of $45.0 billion from the prior deficit of $43.5 billion.
At 14:55 GMT, the University of Michigan Confidence for January will be released, where it had a prior reading of 69.9 and it’s expected to up to 70.3.
Originally posted here
