Analysts at TD Securities explained details for the day ahead.
Key Quotes:
“NZD TD looks for the Jul trade balance to be a small surplus (+$NZ50m) while the market is more pessimistic (-$NZ400m) but we agree if strong import demand continues then there will be a deficit. Weak business indicators threaten a halt on imports and investment, so worth keeping a close eye on this monthly indicator.
USD All eyes will be on Chair Powell’s speech at Jackson Hole, where he will speak on the topic of Monetary Policy in a Changing Economy at 10:00 ET, though we do not expect him to make any substantive policy announcements at this event. See The Action Before Jackson. On the data front, durable goods orders for July will be released at 8:30 ET; TD is in line with the market and looks for headline sales to fall by 1.0% on aircraft orders, with ex-transport orders up 0.7%.
CAD Governor Poloz will be giving an interview on CNBC at 4:15pm ET ahead of Saturday’s panel discussion at Jackson Hole. See Last Chance for Poloz to Send a Message.”
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