NZD/USD Fundamental Forecast – August 30. 2016

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Updated: Aug 29, 2016, 04:38 UTC

The NZD/USD gave into the strength of the US dollar to decline a few points in the morning session. The kiwi is trading at 0.7237 after declining on

NZD/USD Fundamental Forecast – August 30. 2016

The NZD/USD gave into the strength of the US dollar to decline a few points in the morning session. The kiwi is trading at 0.7237 after declining on Friday after Janet Yellen and Stanley Fischer sparked a rally in the greenback. Stronger dairy prices have been supporting the kiwi. On the New Zealand calendar this week are building consents and business confidence which could spark some interest in the commodity currency. On Thursday there is some significant data from China including manufacturing PMI which could also cause some volatility leading into the Friday’s US jobs data.

Markets are expected to show low volume as traders move into summer holiday mode with the UK markets closed today for Summer Bank holiday and US markets preparing for the Labor Day holiday.

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Upcoming Economic Events that you should be monitoring:

August 30, 2016

Country	Event	Volatility	Previous
NZD	Building Permits s.a	2	16.3
JPY	Unemployment Rate	2	3.1
JPY	Jobs/applicants ratio	2	1.37
JPY	Overall Household Spending	2	-2.2
JPY	Large Retailer’s Sales	2	-1.5
JPY	Retail Trade s.a	2	0.2
JPY	Retail Trade	2	-1.4
CHF	KOF Leading Indicator	2	102.7
GBP	Consumer Credit	2	1.837
GBP	Mortgage Approvals	2	64.766
EUR	Harmonized Index of Consumer Prices	2	0.4
EUR	Consumer Price Index	2	0.3
EUR	Harmonized Index of Consumer Prices	2	0.4
EUR	Consumer Price Index	2	0.4
CAD	Current Account	2	-16.8
USD	S&P/Case-Shiller Home Price Indices	2	5.2
USD	Consumer Confidence	2	97.3