NZDUSD Fundamental Analysis – October 11th 2019
Here are the key factors to keep in mind today for New Zealand Dollar trades:
New Zealand Business Manufacturing PMI: The New Zealand Business Manufacturing PMI for September was reported at 48.4. Forex traders can compare this to the New Zealand Business Manufacturing PMI for August which was reported at 48.4.
New Zealand Card Spending: New Zealand Retail Card Spending for September increased by 0.4% monthly and New Zealand Card Spending increased by 0.6% monthly. Forex traders can compare this to New Zealand Retail Card Spending for August which increased by 1.1% monthly and to New Zealand Card Spending which increased by 1.3% monthly.
Here are the key factors to keep in mind today for US Dollar trades:
US Import and Export Price Index: The US Import Price Index for September is predicted to decrease by 0.1% monthly and by 2.2% annualized. Forex traders can compare this to the US Import Price Index for August which decreased by 0.5% monthly and by 2.0% annualized. The US Import Price Index excluding Petroleum for September is predicted to decrease by 0.1% monthly. Forex traders can compare this to the US Import Price Index excluding Petroleum for August which was reported flat at 0.0% monthly. The US Export Price Index for September is predicted to decrease by 0.2% monthly and by 1.5% annualized. Forex traders can compare this to the US Export Price Index for August which decreased by 0.6% monthly and which decreased by 1.4% annualized.
US Michigan Consumer Sentiment: Preliminary US Michigan Consumer Sentiment for October is predicted at 92.0. Forex traders can compare this to US Michigan Consumer Confidence for September which was reported at 93.2. Preliminary Current Conditions for October are expected at 107.5 and Preliminary Expectations are predicted at 81.7. Forex traders can compare this to Current Conditions for September which were reported at 108.5 and to Expectations which were reported at 83.4.
Should price action for the NZDUSD remain inside the or breakout above the 0.6285 to 0.6340 zone the following trade set-up is recommended:
Timeframe: D1
Recommendation: Long Position
Entry Level: Long Position @ 0.6320
Take Profit Zone: 0.6510 – 0.6585
Stop Loss Level: 0.6250
Should price action for the NZDUSD breakdown below 0.6285 the following trade set-up is recommended:
Timeframe: D1
Recommendation: Short Position
Entry Level: Short Position @ 0.6235
Take Profit Zone: 0.5995 – 0.6125
Stop Loss Level: 0.6285
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New Zealand Business Manufacturing PMI: The New Zealand Business Manufacturing PMI for September was reported at 48.4. Forex traders can compare this to the New Zealand Business Manufacturing PMI for August which was reported at 48.4.
New Zealand Card Spending: New Zealand Retail Card Spending for September increased by 0.4% monthly and New Zealand Card Spending increased by 0.6% monthly. Forex traders can compare this to New Zealand Retail Card Spending for August which increased by 1.1% monthly and to New Zealand Card Spending which increased by 1.3% monthly.
Here are the key factors to keep in mind today for US Dollar trades:
US Import and Export Price Index: The US Import Price Index for September is predicted to decrease by 0.1% monthly and by 2.2% annualized. Forex traders can compare this to the US Import Price Index for August which decreased by 0.5% monthly and by 2.0% annualized. The US Import Price Index excluding Petroleum for September is predicted to decrease by 0.1% monthly. Forex traders can compare this to the US Import Price Index excluding Petroleum for August which was reported flat at 0.0% monthly. The US Export Price Index for September is predicted to decrease by 0.2% monthly and by 1.5% annualized. Forex traders can compare this to the US Export Price Index for August which decreased by 0.6% monthly and which decreased by 1.4% annualized.
US Michigan Consumer Sentiment: Preliminary US Michigan Consumer Sentiment for October is predicted at 92.0. Forex traders can compare this to US Michigan Consumer Confidence for September which was reported at 93.2. Preliminary Current Conditions for October are expected at 107.5 and Preliminary Expectations are predicted at 81.7. Forex traders can compare this to Current Conditions for September which were reported at 108.5 and to Expectations which were reported at 83.4.
Should price action for the NZDUSD remain inside the or breakout above the 0.6285 to 0.6340 zone the following trade set-up is recommended:
Timeframe: D1
Recommendation: Long Position
Entry Level: Long Position @ 0.6320
Take Profit Zone: 0.6510 – 0.6585
Stop Loss Level: 0.6250
Should price action for the NZDUSD breakdown below 0.6285 the following trade set-up is recommended:
Timeframe: D1
Recommendation: Short Position
Entry Level: Short Position @ 0.6235
Take Profit Zone: 0.5995 – 0.6125
Stop Loss Level: 0.6285
Open your PaxForex Trading Account now and add this currency pair to your forex portfolio. Do you trade with one of the most trusted MT4 forex brokers? Sign-up with PaxForex today and join one of the fastest growing trading communities in the forex market.