Fed member Dalio sees the Federal Reserve hiking interest rates to 4.5% possibly as high as 6.0% …currently the rate is 2.5% with a rate decision on the calendar next week.
Today is one of 4 yearly “Quadruple Witching” days where 4 different sets of Futures and Options expire on the same day. These days can often signal extremely volatile moves in financial products including currencies when traders close or roll positions. Today marks an extra massive day as over 3 times the normal volume at roughly 3.3 Trillion worth of products fall due
NZ Manufacturing for August rises to 54.9, solidly in expansion- the highest level since July 2 01
US Core Retail Sales for August -0.3% off 0.0% expected
Australian New Home Sales declined 1.6% over August after a 13.1% drop in July
The US Dollar (USD) has been the strongest currency over this week while the New Zealand Dollar (NZD) is the weakest on the main board
The NZD has broken through key support and psychological 0.6000 we will see over the following few days if this break is sustained and ingrained