The Reserve Bank of New Zealand publish their updated economic outlook at 2100GMT. This was added to their schedule a week ago and the NZD has been on the soft side since.
While there will be no change in the cash rate there will be some guidance on the August decision (they are expected to cut in August, the 11th is the meeting). The NZD looks heavy still leading into today's announcement.
There is a danger of a pop in the NZD if the report is not as dovish as expected, but I think the bigger danger is a lower NZD today.
