Here are the key factors to keep in mind today for New Zealand Dollar trades:
- New Zealand REINZ House Sales: New Zealand REINZ House Sales for March decreased by 12.9% annualized. Forex traders can compare this to New Zealand REINZ House Sales for February which decreased by 9.5% annualized.
- New Zealand Business Manufacturing PMI: The New Zealand Business Manufacturing PMI for March was reported at 51.9. Forex traders can compare this to the New Zealand Business Manufacturing PMI for February which was reported at 53.4.
- New Zealand Card Spending: New Zealand Retail Card Spending for March decreased by 0.3% monthly and New Zealand Card Spending decreased by 0.2% monthly. Forex traders can compare this to New Zealand Retail Card Spending for February which increased by 0.9% monthly and to New Zealand Card Spending which increased by 0.1% monthly.
- New Zealand Migration: Permanent/Long-Term Migration for February was reported at 6,570. Forex traders can compare this to Permanent/Long-Term Migration for January which was reported at 6,100. Visitor Arrivals for February decreased by 1.5% monthly and External Migration & Visitors decreased by 1.3% monthly. Forex traders can compare this to Visitor Arrivals for January which decreased by 0.3% monthly and to External Migration & Visitors which increased by 5.3% monthly.
Here are the key factors to keep in mind today for US Dollar trades:
- US Import and Export Price Index: The US Import Price Index for March is predicted to increase by 0.4% monthly and to decrease by 0.7% annualized. Forex traders can compare this to the US Import Price Index for February which increased by 0.6% monthly and which decreased by 1.3% annualized. The US Import Price Index excluding Petroleum for March is predicted flat at 0.0% monthly. Forex traders can compare this to the US Import Price Index excluding Petroleum for February which increased by 0.1% monthly. The US Export Price Index for March is predicted to increase by 0.2% monthly and by 0.2% annualized. Forex traders can compare this to the US Export Price Index for February which increased by 0.6% monthly and by 0.3% annualized.
- US Michigan Consumer Sentiment: Preliminary US Michigan Consumer Sentiment for April is predicted at 98.1. Forex traders can compare this to US Michigan Consumer Confidence for March which was reported at 98.4. Preliminary Current Conditions for April are expected at 112.5 and Preliminary Expectations are predicted at 88.5. Forex traders can compare this to Current Conditions for March which were reported at 113.3 and to Expectations which were reported at 88.8.
Should price action for the NZDUSD remain inside the or breakout above the 0.6715 to 0.6750 zone the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Long Position
- Entry Level: Long Position @ 0.6730
- Take Profit Zone: 0.6900 – 0.6935
- Stop Loss Level: 0.6650
Should price action for the NZDUSD breakdown below 0.6715 the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Short Position
- Entry Level: Short Position @ 0.6690
- Take Profit Zone: 0.6515 – 0.6570
- Stop Loss Level: 0.6730
Open your PaxForex Trading Account now and add this currency pair to your forex portfolio.
