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 April increased by 2.7% annualized. Forex traders can compare this to New Zealand QV House Prices for March which increased by 2.6% annualized.
- New Zealand Employment Data: The Unemployment Rate for the first-quarter was reported at 4.2%. Economists predicted an Unemployment Rate of 4.3%. Forex traders can compare this to the Unemployment Rate for the fourth-quarter which was reported at 4.3%. The Unemployment Change for the first-quarter decreased by 0.2% quarterly and increased by 1.5% annualized. Economists predicted an increase of 0.5% quarterly and of 2.2% annualized. Forex traders can compare this to the Unemployment Change for the fourth-quarter which increased by 0.1% quarterly and by 2.3% annualized. The Participation Rate for the first-quarter was reported at 70.4%. Economists predicted a Participation Rate of 70.9% quarterly. Forex traders can compare this to the Participation Rate for the fourth-quarter which was reported at 70.9%. Private Wages ex Overtime for the first-quarter increased by 0.3% quarterly. Economists predicted an increase of 0.5% quarterly. Forex traders can compare this to Private Wages ex Overtime for the fourth-quarter which increased by 0.5% quarterly. Labor Cost Private Sector for the first-quarter increased by 0.3% quarterly. Economists predicted an increase of 0.5% quarterly. Forex traders can compare this to Labor Cost Private Sector for the fourth-quarter which increased by 0.5% quarterly. Average Hourly Earnings for the first-quarter increased by 1.1% quarterly. Economists predicted an increase of 0.8% quarterly. Forex traders can compare this to Labor Cost Private Sector for the fourth-quarter which increased by 1.0% 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 April is predicted at 180K. Forex traders can compare this to the US ADP Employment Change for March which was reported at 129K.
- US Markit Manufacturing PMI: The Final US Markit Manufacturing PMI for April is predicted at 52.4. Forex traders can compare this to the previous US Markit Manufacturing PMI for April which was reported at 52.4.
- US ISM Manufacturing Index: The US ISM Manufacturing Index for April is predicted at 55.0. Forex traders can compare this to the US ISM Manufacturing Index for March which was reported at 55.3. ISM Prices Paid for April are predicted at 54.5. Forex traders can compare this to ISM Prices Paid for March which were reported at 54.3. ISM Employment for April is predicted at 55.8. Forex traders can compare this to ISM Employment for March which were reported at 57.5.
- US Construction Spending: US Construction Spending for March is predicted to increase by 0.1% monthly. Forex traders can compare this to US Construction Spending for February which increased by 1.0% monthly.
- US FOMC Interest Rate Decision: The US FOMC Interest Rate Decision is predicted to show Upper Bound interest Rates at 2.50% and Lowe Bound Interest Rates at 2.25%. Forex traders can compare this to the previous US FOMC Interest Rate Decision which showed Upper Bound interest Rates at 2.50% and Lower Bound Interest Rates at 2.25% The Interest Rate on Excess Reserves is predicted at 2.40%. Forex Traders can compare this to the previous Interest Rate on Excess Reserves which was reported at 2.40%.
Should price action for the NZDUSD remain inside the or breakout above the 0.6630 to 0.6675 zone the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Long Position
- Entry Level: Long Position @ 0.6655
- Take Profit Zone: 0.6835 – 0.6875
- Stop Loss Level: 0.6580
Should price action for the NZDUSD breakdown below 0.6630 the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Short Position
- Entry Level: Short Position @ 0.6620
- Take Profit Zone: 0.6425 – 0.6465
- Stop Loss Level: 0.6675
Open your PaxForex Trading Account now and add this currency pair to your forex portfolio.
