American Durable Goods Orders and a rate decision in New Zealand are the highlights of this busy day in forex trading.
Australian HIA New Home Sales starts the day. Last month, this figure fell by 5.7%. In New Zealand, NBNZ Business Confidence is an important release that will give a broad view over the economy.
A bigger event for the kiwi is expected on the other side of the day. At 21:00 GMT, a rate decision will be made. The Official Cash Rate is predicted to remain unchanged, at 2.5%. Kiwi traders will closely watch the accompanying RBNZ Rate Statement. RBNZ Governor Bollard’s words will move NZD/USD.
For more on the kiwi, check out the NZD/USD Outlook.
In Germany, Prelim CPI will be emerge throughout the day in the different German states. The overall figure is expected to show a rise of 0.2%, after rising by 0.4%. This will affect EUR/USD.
In Britain, Net Lending to Individuals is predicted to rise from 0.6 to 1 billion. Also Mortgage Approvals are expected to rise, from 43 to 48K.
For more on on GBP/USD, check out the British Pound Outlook.
American Durable Goods Orders are predicted to slip back to negative territory and fall by 0.6% after rising by 1.8%. Traders will watch out for the Core Durable Goods Orders which is also predicted to calm down to a modest rise of 0.1% after rising by 1.1% last month.
In the evening, the American Beige Book is published. An overview of the economy can tell us how real the recovery is.
Japan’s Prelim Industrial Production closes the day with an expected rise of 2.5%, less than last month.
My favorite pair this week, USD/CAD, made a false break downwards. It went as low as 1.0750 before retreating back to 1.0866, around where it started the week. For more on the loonie, check out the Canadian Dollar Outlook.