Forex: NZD/USD lower ahead of US home sales data

on Jul 22, 2013
Listen Monday July 22nd:_ The New Zealand dollar has been softening against the greenback since Friday, with the pair falling from an intraday high at 0.7988 to today’s current session low at 0.7906, 0.82 percent down so far and nearly half a cent off the day’s high to this point at 0.7951. As Asian trading got under way, market operators in New Zealand were busy checking for damage to buildings and systems following the weekend’s 6.5 earthquake near the capital city of Wellington.

US data which might affect the pair’s movement through the remainder of the day are the Chicago Fed National Activity Index for June which is due out at 13:30 BST, followed by the US Existing Home Sales Change data for June m/m, scheduled for 15:00 BST.
The two-day meeting of G20 Finance Ministers and Central Bank Governors finished on Saturday, with the communique stating that future changes to monetary policy will be “carefully calibrated and clearly communicated”. The G20 countries have also agreed to stiffen measures against cross-border corporate tax-dodging.
The ifs and whens of a scale-back in US fiscal stimulus dominated during the two-day talks in Moscow, with emerging markets concerned at a resulting selloff in stocks and bonds and a flight to the dollar.

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NZD Forex