The NZD/USD pair traded in a range early Tuesday despite the US dollar’s slight decline against other major currencies, where the inflation expectations for the New Zealand economy fueled expectations that the RBNZ will keep the rates steady till the end of the year.
The two-year inflation expectations for New Zealand indicated that inflation risks are slowing which could help the Reserve Bank of New Zealand to keep the rate steady in the upcoming period, which reduced demand for the Kiwi and prevented the chance for recovery as seen in the market on the advantage of a softer dollar in Asian trading.
On Wednesday at 13:30 GMT, the U.S. economy will release the Durable Goods Orders for October, which is expected to come at -1.0% from the previous -0.8%.
Also the Personal Income for October will be released at the same time and expected to improve to 0.3% from 0.1% while the U.S. Personal Spending is expected to slow to 0.3% from 0.6%.
The annual Personal Consumption Expenditure Core for October is expected to come at 1.7% compare to the previous reading of 1.6%.
At 13:30 GMT, the U.S. economy will issue its weekly initial claims, where the number of people filing for first-time claims for the state unemployment insurance fell to 388 thousand last week.
Finally, the U.S. economy will release the University of Michigan Confidence for November at 14:55 GMT, where the final reading is expected to come at 64.5 from the prior reading of 64.2.
Originally posted here
