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.
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