NZD/USD drops from 0.6211 to 0.6177, losing 33 pips (0.54%) today.
Crude Oil Inventories data from United States will be released today at 14:30 UTC with analysts expecting a decline to -1 million. Potentially significant price fluctuations in the New-Zealand Dollar are expected to follow.
While price action maintains a negative bias, United States Building Permits (Mar) released yesterday at 12:30 UTC with a figure of 1.41 million, while the previous figure was 1.55 million. New Zealand Retail Price Index released yesterday at 12:00 UTC with a figure of 3.2, while the previous figure was -4.7. United States API Weekly Crude Oil Stock came out at -2.67 million, while a consensus of analysts was expecting -2.46 million.
Though the New-Zealand Dollar has been dropping, other pairs have been performing better: having closed the previous session at 134.07, USD/JPY is up 0.67% today to currently trade at around 134.97. USD/SGD added 0.35% to its value, now trading at 1.3373. Having closed the previous session at 166.6, GBP/JPY is up 0.56% today to currently trade at around 167.53.
Furthermore, New Zealand Consumer Price Index is expected today at 22:45 UTC. New Zealand Retail Price Index is expected tomorrow at 15:00 UTC. New Zealand Consumer Price Index figure is projected at 7.1%. It previously stood at 7.2%; data will be released today at 22:45 UTC.
The Kiwi is now trading 11.58% away from its significant low of 0.5566 first tested 6 months ago.