Forex: NZD/USD erases Monday’s gains and hits 12-month low at 0.7759

on Jun 11, 2013
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During today’s mid-European session NZD/USD has plunged to a 12-month low of 0.7759. Currently the pair is trading at around 0.7785.

China’s consumer price inflation decelerated to 2.1 percent year-on-year last month. New Zealand’s Manufacturing Activity increased by 0.2 percent q/q in the first quarter of 2013, which compared to a 0.1 percent quarterly decrease in the last quarter of 2012. The US dollar has strengthened against other majors since Friday on a bigger-than-forecast rise in US non-farm payrolls in May.

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All these figures have influenced the NZD/USD pair. Yesterday’s high for the pair was at 1.3267 and the day’s low at 1.3176.
Another significant announcement for the NZD/USD is scheduled today at 23:15 BST when the REINZ House Price Index monthly reading for May is due to be released. At 23:34 BST today New Zealand’s Electronic Card Retail Sales m/m and y/y data for May are due to be announced.

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NZD Forex