By FX Empire.com

The NZD/USD pair soared for the third day after it has opened the week with a bullish gap, as the Kiwi is using the current market sentiment which supports the risk appetite.

The Kiwi used the current US dollar weakness to cover some of its previous losses, as investors increased demand for higher yielding currencies on expectations that the EU leaders are working on new measures to prevent the crisis from spreading to other countries.

On Wednesday at 21:45 GMT (Tuesday), New Zealand will release the Building Permits for October, which had a previous reading of -17.1%.

The U.S. economy will release the ADP employment change for November at 13:15 GMT, where it’s expected to come at 128 thousands from the previous reading of 110 thousands.

The U.S. Non-Farm Productivity for the third quarter is to be released at 13:30 GMT and expected to come at 3.1% inline with the previous reading, and the Unit Labor Costs for the third quarter is also expected unchanged at -2.4%.

The Chicago Purchasing Manager for November will be released at 14:45 GMT and is expected to come at 58.5 from the previous 58.4. At 15:00 GMT the Pending Home Sales will be published and it’s expected to remain flat from the prior -4.6%.

Originally posted here