By FX Empire.com
The NZD/USD pair dropped for the second day as the Kiwi followed risky assets and commodities steps and dropped to the downside amid a renewed wave of risk aversion in the market.
Kiwi retreated against the US dollar as investors sentiment is turning negative again on fears over the outlook especially after the weak Chinese PMI and worsening outlook for Europe again after Greek prime minister unexpectedly called for a referendum on the new bailout.
The fears supported haven demand on the dollar and risk aversion which further pressured the New Zealand dollar to the downside.
On Wednesday, the U.S. economy will release the ADP employment change for August at 12:15 GMT, where it’s expected at 101 thousands from the previous reading of 91 thousands.
At 16:30 GMT, the Federal Open Market Committee will announce its Rate Decision, which is expected to be steady between 0.0% and 0.25%; and at 18:15 GMT Fed’s Governor Bernanke will speak at the Fed Press Conference.
See what are the upcoming financial event on the FX Empire Forex Economic Calendar now.
