August 09, 2017 7:58:02 AM EST

by NewsMovesMarketsForex Staff Writer


NZD sets a new low of .73074 from a high of .7367 in the overnight Forex Trading session on  August 8th 2017.

NZD sells to .73074 level 08/08/2017


The New Zealand dollar has continued to show signs of weakness against Greenback all week. This morning the NZD dollar Index is currently trading at  77.23 down (- .06% ) 8:07 a.m. eastern standard time.  The US dollar Index futures  is currently  trading at 93.49 up (+.01% )  August 9th 2017  8:07 a.m. eastern standard time.

It is important to recognize that Reserve Bank of New Zealand will meet later today at 5 p.m. Eastern Standard Time for the New Zealand official cash rate decision. This is a highly impactful economic New Zealand news event that is  broadly anticipated by investors worldwide.

The consensus expected Fundamental Analysis hypothesis is that Governor Wheeler will retain a neutral stance of holding the New Zealand cash rate unchanged at 1.75%.  However traders should proceed with caution until the official announcement is released later this evening.

         High impact Major Economic New Zealand news events scheduled for today:

  •          5 p.m. Eastern Standard Time RBNZ monetary policy statement
  •          5 p.m. Eastern Standard Time or RBNZ Governor Wheeler Speech
  •          6:45 p.m. Eastern Standard Time Electronic Card Retail Sales (month-over-month ) July report
  •          9:21 p.m. Eastern Standard Time RBNZ Governor Wheeler Speech