Here is the key factor to keep in mind today for New Zealand Dollar trades:
- New Zealand QV House Prices: New Zealand QV House Prices for July increased by 6.4% annualized. Forex traders can compare this to New Zealand QV House Prices for June which increased by 8.1% annualized.
- New Zealand Employment Data: The Unemployment Rate for the second-quarter was reported at 4.8%. Economists predicted an Unemployment Rate of 4.8%. Forex traders can compare this to the Unemployment Rate for the first-quarter which was reported at 4.9%. The Unemployment Change for the second-quarter decreased by 0.2% quarterly and increased by 3.1% annualized. Economists predicted an increase of 0.7% quarterly and of 4.1% annualized. Forex traders can compare this to the Unemployment Change for the first-quarter which increased by 1.1% quarterly and by 5.7% annualized. The Participation Rate for the second-quarter was reported at 70.0% quarterly. Economists predicted a Participation Rate of 70.6% quarterly. Forex traders can compare this to the Participation Rate for the first-quarter which was reported at 70.6% quarterly. Private Wages ex Overtime for the second-quarter increased by 0.4% quarterly. Economists predicted an increase of 0.5% quarterly. Forex traders can compare this to Private Wages ex Overtime for the first-quarter which increased by 0.4% quarterly. Labor Cost Private Sector for the second-quarter increased by 0.4% quarterly. Economists predicted an increase of 0.4% quarterly. Forex traders can compare this to Labor Cost Private Sector for the first-quarter which increased by 0.4% quarterly. Average Hourly Earnings for the second-quarter increased by 0.8% quarterly. Economists predicted an increase of 0.9% quarterly. Forex traders can compare this to Labor Cost Private Sector for the first-quarter which increased by 0.3% quarterly.
Here is the key factor to keep in mind today for US Dollar trades:
- US ADP Employment Change: The US ADP Employment Change for July is predicted at 190K. Forex traders can compare this to the US ADP Employment Change for June which was reported at 158K.
Should price action for the NZDUSD remain inside the or breakout above the 0.7400 to 0.7440 zone the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Long Position
- Entry Level: Long Position @ 0.7420
- Take Profit Zone: 0.7560 – 0.7600
- Stop Loss Level: 0.7380
Should price action for the NZDUSD breakdown below 0.7400 the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Short Position
- Entry Level: Short Position @ 0.7380
- Take Profit Zone: 0.7200 – 0.7240
- Stop Loss Level: 0.7440
Open your PaxForex Trading Account now and add this currency pair to your forex portfolio.
