By FX Empire.com
The NZD/USD pair fell to its lowest level in five weeks as Kiwi lost momentum after risk aversion reduced demand for the higher-yielding currencies.
Asian stocks declined which opened the way for more losses for the Kiwi; on the other hand, the ongoing sovereign-debt crisis in Europe shifted most of the investments to safe assets such as the yen and the US dollar.
On Wednesday, the U.S. economy will release the Consumer Price Index for October at 13:30 GMT, where the prior reading was 0.3% and expectations refer to 0.0%, while the annual CPI is expected to come at 3.6% from the previous 3.9%.
At 14:00 GMT the Net Long-term TIC Flows for September will be released, where it had a previous reading of $57.9 billion, as for the Total Net TIC Flows it had a previous reading of $89.6 billion.
The Industrial Production for October is due at 14:15 GMT and expected to come at 0.4% from the previous 0.2%, while the Capacity Utilization is expected to come at 77.7% from 77.4%.
Originally posted here
