FX News

Tuesday 07/09
All Day, CAD, Bank Holiday
All Day, USD, Bank Holiday
4:30pm, AUD, RBA Rate Statement

Thursday 09/09
2am, CAD, BOC Rate Statement
3am, GBP, Monetary Policy Report Hearings
Tentative, CAD, BOC Press Conference
11:45pm, EUR, Monetary Policy Statement

Friday 10/09
12:30am, EUR, ECB Press Conference
4am, CAD, BOC Gov Macklem Speaks Read more

• Worldwide coronavirus cases surpass 219.853 million with over 4.553 million official deaths.

• New Zealand has 736 community cases of coronavirus with 49 new cases announced yesterday. Meanwhile, the Australian State of New South Wales had 1288 new cases yesterday with Victoria 176.
• ANZ still predicts the RBNZ will raise rates at their October policy meeting
• PM Johnson is to announce a tax hike next week in an effort to bring down NHS waiting lists.
• The greenback is on the defensive breaking lower Friday ahead of US Non-Farm Payroll releasing.

Market Overview

Key Points:

• Worldwide coronavirus cases surpass 217.777 million with over 4.522 million official deaths.
• New Zealand has 562 community cases of coronavirus with 53 new cases announced yesterday. Meanwhile, the Australian State of New South Wales had 1290 new cases yesterday with Victoria 76.
• Japan Industrial Production for July -1.5% m/m based on -2.5% expected.
• Japan’s Unemployment Rate for July came in at 2.8% – 2.9% expected.
• New Zealand Building Permits for July +2.1% m/m, 3.8% prior.
• The Pentagon announces completion of the US withdrawal of troops from Afghanistan.
• Hurricane Ida weakens out to a tropical storm with flash flooding continuing in Southern Louisiana and Southern Mississippi. Read more

Monday 30/08
All Day, GBP, Bank Holiday

Wednesday 01/09
1:30PM, AUD, GDP q/q
Forecast 0.60%
All Day, All, OPEC Meetings
All Day, All, OPEC-JMMC Meetings

Thursday 02/09
12:15AM, USD, ADP Non-Farm Employment Change
Forecast 650K
2AM, USD, ISM Manufacturing PMI
Forecast 58.7 Read more

Key Points:

• Worldwide coronavirus cases surpass 215.356 million with over 4.485 million official deaths.

• New Zealand has 277 community cases of coronavirus with 68 new cases announced yesterday. Meanwhile the Australian State of New South Wales had 1029 new cases yesterday with Victoria 80.
• The death toll is mounting in Kabul following a bombing early this morning, numbers now show 13 US military personnel confirmed dead. 
• New Zealand Consumer Confidence drops to 109.6 in August following July’s 113.1 clearly a sign of existing level 4 lockdowns.
• Federal Reserve’s Kaplan doesn’t see a shift sooner from 2022 rate hikes. 

Key Points:

• Worldwide coronavirus cases surpass 213.211 million with over 4.452 million official
deaths.
• Australia weekly consumer sentiment survey: 101 – previous week 101.
• New Zealand Finance minister Robinson reports NZ has a strong fiscal position to handle lockdowns.
• New Zealand has 107 community cases of coronavirus with 35 new cases announced yesterday. Meanwhile the Australian State of New South Wales had 818 new cases yesterday with Victoria 50.
• Australian GDP will most likely fall 2.0% in the third quarter, then expand by 2.0% in the fourth quarter as restrictions are gradually eased.
• Gains in US Stocks/Equities overnight with the Nasdaq closing up 1.55% after word that the Pfizer Vaccine has been formally approved by the FDA Read more

Tuesday 24/08
1:45am, USD, Flash Manufacturing PMI
Forecast 62.4
Previous 63.4
1:45am, USD, Flash Services PMI
Forecast 59.1
Previous 59.9

Thursday 26/08
12:30am, USD, Core Durable Goods Orders m/m
Forecast 0.40%
Previous 0.50% Read more

Key Points:

• Worldwide coronavirus cases surpass 210.766 million with over 4.415 million official deaths.

• Lawmakers in the US have requested President Biden delay the 31st August withdrawal of troops out of Afghanistan saying they would stay in the country “to get all American citizens out”.   
• The New Zealand Dollar and the Australian Dollar have been by far the weakest currencies this week dropping over 1.0% against rivals.
• New Zealand has 22 community cases of coronavirus with 11 new cases announced yesterday. Meanwhile the Australian State of New South Wales had 685 new cases yesterday with Victoria 55.
• The US Dollar moves higher while equity markets Friday turn lower.
• The depreciation of Crude Oil continues with the commodity falling to 64.00 from its early July high of 75.87.

Market Overview

• Worldwide coronavirus cases surpass 208.458 million with over 4.381 million official
deaths.
• Thousands of US Troops will stage a mass exodus of Afghanistan over the coming days with US president Biden vowing ongoing support to the Afghan people outside of the country.
• The New Zealand Dollar (NZD) holds ground as markets wait for RBNZ rate decision Wednesday
• The State of New South Wales has recorded 452 new coronavirus cases and 1 death in the past 24 hours.

Major Announcements last week:

• NZ Inflation Expectations comes in at 2.27% over the next two years
• US Producer Price Index for July shows good demand at 1.0%
• US Core CPI for July prints at 0.5% down from 0.9% with y/y inflation remaining at 5.4%

Tuesday 17/08
1:30pm, AUD, Monetary Policy Meeting Minutes

Wednesday 18/08
12:30am, USD, Core Retail Sales m/m
Forecast 0.20%
Previous 1.30%
12:30am, USD, Retail Sales m/m
Forecast -0.20%
Previous 0.60%
1:15am, USD, Industrial Production m/m
Forecast 0.50%
Previous 0.40%
5:30am, USD, Fed Chair Powell Speaks
2pm, NZD, NZD, Official Cash Rate
Forecast 0.50%
Previous 0.25%
2pm, NZD, RBNZ Monetary Policy Statement
2pm, NZD, RBNZ Rate Statement
3pm, NZD, RBNZ Press Conference
6pm, GBP, CPI y/y
Forecast 2.30%
Previous 2.50% Read more