The NZD/USD pair advanced from it lowest level in six weeks, as the greenback lost momentum against other majors in a correctional movement after its previous strong performance.
The New Zealand dollar retreated during the last period due to the uncertainty regarding the global economy outlook, in addition to the Chinese authorities’ attempts to cool inflation which started to show the negative effects on China and accordingly on demand outlook for New Zealand’s exports which affects the recovery.
Expectations remain for further losses for the NZD/USD pair as the current rise is just a correction move due to the US dollar weakness where risk aversion remains the dominant force in markets.
On Friday, the United States will end the week at 15:00 GMT with the Leading Indicators for October which are expected to improve to 0.5% from 0.2%.
Originally posted here
Enter and Compare Forex Brokers now!
