NZD/USD Forecast Dec. 20, 2011, Fundamental Analysis

NZD/USD Forecast Dec. 20, 2011, Fundamental Analysis
NZD/USD Forecast Dec. 20, 2011, Fundamental Analysis
The NZD/USD pair started the week with losses, where the Kiwi lost more ground against the US dollar, as concerns increased regarding the EU debt crisis and possibility of spreading to other countries.

Expectations remain for a weaker New Zealand dollar since the RBNZ announced their decision to keep the interest rate steady at its lowest level of 2.50%, in addition to the comfortable tone regarding the current inflation pressure.

The U.S. economy will release the Housing Starts for November at 13:30 GMT, where it’s expected to show a rise of 0.3% to 630 thousand compare to the prior drop of 0.3%.

As for the U.S. Building Permits it’s expected to drop 1.4% to 635 thousand from 653 thousand.

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