NZD GDP q/q

We’ll be getting the quarterly release of New Zealand’s GDP, and because it is a quarterly release, market tends to pay more attention to it, thus more volatility is expected. Here’s forecast:

6:45pm NZ GDP q/q Forecast 0.3% Previous 0.2%
Action: NZD/USD BUY 0.6% SELL 0.0%

The Trade Plan
The expected consensus number is 0.3%, and the safe deviation is 0.3%, in the event it is hit, we should see market move 40 pips within the hour.

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We’ll be getting the quarterly release of New Zealand’s GDP, and because it is a quarterly release, market tends to pay more attention to it, thus more volatility is expected. Here’s forecast:

6:45pm NZ GDP q/q Forecast 0.8% Previous 0.6%
Action: NZD/USD BUY 1.1% SELL 0.5%

The Trade Plan
The expected consensus number is 0.8%, and the safe deviation is 0.3%, in the event it is hit, we should see market move 40 pips within the hour.

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6:45pm (NY Time) NZ GDP q/q   Forecast 0.5%  Previous 0.8%
ACTION: NZD/USD         BUY 0.8%            SELL 0.2%

New Zealand GDP is a high impact news release scheduled on a quarterly basis… The expected consensus number is 0.5%, therefore if we get a 0.3% of deviation, we should see market move 40 pips within the hour.  NZD has been benefitting from the recent risk appetite sentiment as the result of China’s announcement of ending its peg with USD, and the fact that RBNZ has started its rate tightening cycle. If we get a positive reading on the GDP number, expect NZD/USD to rise and retest recent resistance levels; if the GDP remains heavily to the downside, a decent retracement should be expected of NZD and 0.6800 should provide strong support.

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[flv:http://www.newsprofiteer.com/092209-nzdgdp/092209-nzdgdp.mp4 480 360]

6:45pm (NY Time) NZ GDP q/q   Forecast -0.2%  Previous -1.0%
ACTION: NZD/USD         BUY 0.1%            SELL -0.5%

GDP is a high impact news… The expected consensus number is -0.2%, therefore if we get a 0.3% of deviation, we should see market move 40 pips within the hour.  NZD has been benefitting from the recent risk appetite sentiment and it is currently over at the 0.7170 level.  Should we get a positive reading on the GDP number, expect NZD/USD to rise above the 0.7200 level; should the GDP remain heavily to the downside, a decent retracement should be expected of NZD as at the current level even Governor of RBNZ Bollard feels overvalued… (During his last press conference, Bollard sees NZD/USD at the 0.6200 level, which is almost 1000 pips  less from where we are!!!) 

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