NZD/USD Forecast Jan. 20, 2012, Fundamental Analysis

NZD/USD Forecast Jan. 20, 2012, Fundamental Analysis
NZD/USD Forecast Jan. 20, 2012, Fundamental Analysis
The NZD/USD pair dropped early Thursday after the New Zealand dollar retreated against other majors due to the decline in CPI during the fourth quarter, while the greenback maintained its two days of losses against other majors.

The New Zealand dollar drooped early Thursday after the fourth quarterly consumer price index dropped by 0.3% and retreated to 1.8% over yearly basis from the previous 4.6%.

The unexpected figures for the inflation in New Zealand reduced expectations that the Reserve Bank of New Zealand could hike rate during next week meeting, where the Kiwi lost ground against the greenback.

On Friday, the U.S. economy will report the Existing Home Sales for December, where it’s expected with 3.7% rise to 4.65 million from 4.42 million.

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