Economic data out of New Zealand showed the Business Manufacturing PM continued to contract in September as electronic retail card sales slowed down sharply. Forex traders largely ignored the economic data and chose to focus on developments out of the US-China trade talks which will continue today. President Trump stated the first day was great, but his statements were often contradicted by actual events. What does this mean for the NZDUSD? Subscribe to the PaxForex Daily Fundamental Analysis and earn over 5,000 pips per month.

US economic data will include the latest reading on consumer confidence which is expected to move the US Dollar. Despite the ongoing slowdown, the US consumer continued to borrow and spend which supported the economy. Is this trend coming to an end? The Import and Export Price Index is expected to reflect the overall slowdown in the US economy. How will this impact the NZDUSD? Today’s fundamental analysis will take a look at the downside potential as well as the upside risk in this currency pair.