Here are the key factors to keep in mind today for New Zealand Dollar trades:
- New Zealand QV House Prices: New Zealand QV House Prices for July increased by 5.1% annualized. Forex traders can compare this to New Zealand QV House Prices for June which increased by 5.7% annualized.
- New Zealand Employment Data: The Unemployment Rate for the second-quarter was reported at 4.5%. Economists predicted an Unemployment Rate of 4.4%. Forex traders can compare this to the Unemployment Rate for the first-quarter which was reported at 4.4%. The Unemployment Change for the second-quarter increased by 0.5% quarterly and by 3.7% annualized. Economists predicted an increase of 0.4% quarterly and of 3.6% annualized. Forex traders can compare this to the Unemployment Change for the first-quarter which increased by 0.6% quarterly and by 3.1% annualized. The Participation Rate for the second-quarter was reported at 70.9%. Economists predicted a Participation Rate of 70.8% quarterly. Forex traders can compare this to the Participation Rate for the first-quarter which was reported at 70.8%. Private Wages ex Overtime for the second-quarter increased by 0.6% quarterly. Economists predicted an increase of 0.7% quarterly. Forex traders can compare this to Private Wages ex Overtime for the first-quarter which increased by 0.3% quarterly. Labor Cost Private Sector for the second-quarter increased by 0.6% quarterly. Economists predicted an increase of 0.6% quarterly. Forex traders can compare this to Labor Cost Private Sector for the first-quarter which increased by 0.3% quarterly. Average Hourly Earnings for the second-quarter increased by 0.2% quarterly. Economists predicted an increase of 1.0% quarterly. Forex traders can compare this to Labor Cost Private Sector for the first-quarter which increased by 1.1% quarterly.
Here are the key factors to keep in mind today for US Dollar trades:
- US ADP Employment Change: The US ADP Employment Change for July is predicted at 185K. Forex traders can compare this to the US ADP Employment Change for June which was reported at 177K.
- US Markit Manufacturing PMI: The Final US Markit Manufacturing PMI for July is predicted at 55.5. Forex traders can compare this to the previous US Markit Manufacturing PMI for July which was reported at 55.5.
- US Construction Spending: US Construction Spending for June is predicted to increase by 0.3% monthly. Forex traders can compare this to US Construction Spending for May which increased by 0.4% monthly.
- US ISM Manufacturing Index: The US ISM Manufacturing Index for July is predicted at 59.3. Forex traders can compare this to the US ISM Manufacturing Index for June which was reported at 60.2. ISM Prices Paid for July are predicted at 75.5. Forex traders can compare this to ISM Prices Paid for June which were reported at 76.8. ISM Employment for July is predicted at 56.0. Forex traders can compare this to ISM Employment for June which were reported at 56.0.
- US FOMC Interest Rate Decision: The US FOMC Interest Rate Decision is predicted to show interest rates at 1.75%. Forex traders can compare this to the previous US FOMC Interest Rate Decision which showed interest rates at 1.75%.
Should price action for the NZDUSD remain inside the or breakout above the 0.6765 to 0.6830 zone the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Long Position
- Entry Level: Long Position @ 0.6795
- Take Profit Zone: 0.7030 – 0.7055
- Stop Loss Level: 0.6685
Should price action for the NZDUSD breakdown below 0.6765 the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Short Position
- Entry Level: Short Position @ 0.6740
- Take Profit Zone: 0.6495 – 0.6580
- Stop Loss Level: 0.6795
Open your PaxForex Trading Account now and add this currency pair to your forex portfolio.
