Here are the key factors to keep in mind today for New Zealand Dollar trades:
- New Zealand Business Manufacturing PMI: The New Zealand Business Manufacturing PMI for August was reported at 52.0. Forex traders can compare this to the New Zealand Business Manufacturing PMI for July which was reported at 51.2.
- Chinese Surveyed Jobless Rate: The Chinese Surveyed Jobless Rate for August was reported at 5.0%. Forex traders can compare this to the Chinese Surveyed Jobless Rate for July which was reported at 5.1%.
- Chinese Industrial Production: Chinese Industrial Production for August increased by 6.1% annualized. Economists predicted an increase of 6.1% annualized. Forex traders can compare this to Chinese Industrial Production for July which increased by 6.0% annualized.
- Chinese Retail Sales: Chinese Retail Sales for August increased by 9.0% annualized. Economists predicted an increase of 8.8% annualized. Forex traders can compare this to Chinese Retail Sales for July which increased by 8.8% annualized.
- Chinese Fixed Assets ex Rural: Chinese Fixed Assets ex Rural for August increased by 5.3% annualized. Economists predicted an increase of 5.6% annualized. Forex traders can compare this to Chinese Fixed Assets ex Rural for July which increased by 5.5% annualized.
Here are the key factors to keep in mind today for US Dollar trades:
- US Advanced Retail Sales: US Advanced Retail Sales for August are predicted to increase by 0.4% monthly and Retail Sales Less Autos are predicted to increase by 0.5% monthly. Forex traders can compare this to US Advanced Retail Sales for July which increased by 0.5% monthly and to Retail Sales Less Autos which increased by 0.6% monthly. Retail Sales Less Autos and Gas for August are predicted to increase by 0.5% monthly and Retail Sales Control Group are predicted to increase by 0.4% monthly. Forex traders can compare this to Retail Sales Less Autos and Gas for July which increased by 0.6% monthly and to Retail Sales Control Group which increased by 0.5% monthly.
- US Import and Export Price Index: The US Import Price Index for August is predicted to decrease by 0.3% monthly and by 4.1% annualized. Forex traders can compare this to the US Import Price Index for July which was reported flat at 0.0% monthly and which increased by 4.8% annualized. The US Import Price Index excluding Petroleum for August is predicted to decrease by 0.1% monthly. Forex traders can compare this to the US Import Price Index excluding Petroleum for July which decreased by 0.1% monthly. The US Export Price Index for August is predicted flat at 0.0% monthly and to increase by 3.5% annualized. Forex traders can compare this to the US Export Price Index for July which decreased by 0.5% monthly and which increased by 4.3% annualized.
- US Industrial Production and Manufacturing Production: US Industrial Production for August is predicted to increase by 0.3% monthly and Manufacturing Production is predicted to increase by 0.4% monthly. Forex traders can compare this to US Industrial Production for July which increased by 0.1% monthly and to Manufacturing Production which increased by 0.3% monthly.Capacity Utilization for August is predicted at 78.3%. Forex traders can compare this to Capacity Utilization for July which was reported at 78.1%.
- US Business Inventories: US Business Inventories for July are predicted to increase by 0.5% monthly. Forex traders can compare this to US Business Inventories for June which increased by 0.1% monthly.
- US Michigan Consumer Sentiment: Preliminary US Michigan Consumer Sentiment for September is predicted at 96.8. Forex traders can compare this to US Michigan Consumer Confidence for August which was reported at 96.2.
Should price action for the NZDUSD remain inside the or breakout above the 0.6555 to 0.6610 zone the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Long Position
- Entry Level: Long Position @ 0.6585
- Take Profit Zone: 0.6825 – 0.6880
- Stop Loss Level: 0.6500
Should price action for the NZDUSD breakdown below 0.6555 the following trade set-up is recommended:
- Timeframe: D1
- Recommendation: Short Position
- Entry Level: Short Position @ 0.6540
- Take Profit Zone: 0.6345 – 0.6420
- Stop Loss Level: 0.6585
Open your PaxForex Trading Account now and add this currency pair to your forex portfolio.
