NZD/USD Fundamental Forecast – August 31. 2016

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Published: Aug 30, 2016, 04:46 UTC

The NZD/USD is down 4 points against the stronger US dollar. The greenback is up by 14 points in the morning session as traders continued to evaluate a

NZD/USD Fundamental Forecast – August 31. 2016

The NZD/USD is down 4 points against the stronger US dollar. The greenback is up by 14 points in the morning session as traders continued to evaluate a steady flow of positive US data and comments from the Federal Reserve speakers. Data released this morning indicated that building consents fell a seasonally adjusted 10.5 percent in July from the month before, when they rose 22 percent. If apartment numbers are removed, consents for houses decreased 5 percent. However, for the year ended July more than 29,000 consents for new dwellings were issued, the highest level since mid-2004.

The US dollar rallied after US Commerce Department data showed consumer spending had risen in July. The rise in the dollar also followed a comparatively bullish outlook from US Fed chief Janet Yellen, who said Friday that justification for an interest rate hike was mounting.

The Commerce Department reported Monday that US consumer spending in July had risen 0.3 per cent over June while core inflation had risen only 0.1 per cent. Personal incomes were up 0.4 per cent for the month.

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August 31, 2016

Country	Event	Volatility	Previous
GBP	Gfk Consumer Confidence	2	-12
JPY	Industrial Production	2	-1.5
JPY	Industrial Production	2	2.3
AUD	HIA New Home Sales	2	8.2
CHF	UBS Consumption Indicator	2	1.34
EUR	Unemployment Rate s.a.	3	6.1
EUR	Unemployment Change	3	-7
EUR	Unemployment	2	11.6
EUR	Unemployment Rate	2	10.1
EUR	Consumer Price Index	3	0.2
EUR	Consumer Price Index – Core	3	0.9
USD	ADP Employment Change	2	179
CAD	Gross Domestic Product Annualized	2	2.4
CAD	Gross Domestic Product	2	-0.6
USD	Chicago Purchasing Managers’ Index	2	55.8
USD	Pending Home Sales	2	1
USD	Pending Home Sales	2	0.2