Due at 2145GMT from New Zealand … but unlikely to have much immediate impact on spot FX …
Q3 Manufacturing Activity & Activity Volume
- Q3 Manufacturing Activity, prior was -1.9% q/q
- Q3 Manufacturing Activity Volume, prior was -0.7%
If you’re new to FX and have decided this is the week you’ll start trading the NZ dollar …. here’s where we are at:
- New Zealand is experiencing relatively good economic times
- Domestic demand is strong
- Inflation is low
- The RBNZ had been been on a rate hike cycle, but that has paused (at the least)
- This week we get a huge NZ exporter, Fonterra, reviewing its milk price forecast. Its currently at $5.30/kg and looks like it will be lowered
- Also this week, Thursday (NZ morning time …. which is Wednesday evening or afternoon in most of the trading world … i.e. Europe/UK and North America … yeah, in addition to having a strong economy New Zealand is in the future, too!) the Reserve Bank of New Zealand meet. A change to the cash rate target is very, very unlikely, and the accompanying statement is likely to very similar to previous – i.e the tightening bias will remain but may be watered down a little.
