The NZD/USD pair drooped after disappointing jobs data from the New Zealand economy, which reduced demand for the Kiwi, opening the door for more gains for the greenback.
The Unemployment Rate rose in New Zealand during the third quarter to 6.6% from the previous 6.5%, which reflect the continued slowdown in the labor market in New Zealand due to the negative effect of the EU debt crisis on the business sector.
The FOMC also increased risk aversion after the Feds downgraded their outlook for growth and employment and the debt crisis in Europe is still deepening with Greece now threatened with leaving the euro and announcing default, all supporting the appeal of the dollar as a safe haven.
The United States of America will release the non-farm payrolls at 12:30 GMT, which is expected to show that the U.S. economy added 100 thousand jobs during the month of October compared with the previous reading of 103 thousand jobs.
Unemployment rate during the month of October is expected to be steady at 9.1%, while the yearly average hourly earnings index had a previous reading of 1.9%.
