We’ll be getting the Retail Sales figure out of New Zealand today, since Retail Sales is a direct reflection of the economy, this release is considered as an high impact release… Here’s the forecast:

6:45pm (NY Time) NZ Retail Sales   Forecast 0.6%     Previous -0.3%
ACTION: NZD/USD                                      BUY 1.2%                 SELL 0.0%

4:45pm (NY Time)       NZ Retail Sales Forecast 0.5%  Previous 1.1%
ACTION: NZD/USD      BUY 1.1%      SELL -0.1%

today we’ll focus on the Retail Sales release out of New Zealand… Retail Sales release is the measurement of consumer spending in the retail sector, as it reflects the strength of the economy and the strength of consumer spending. We’ll be looking for a difference of at least 0.6% from the Forecast, therefore a positive 1.1% will be somewhat bullish signal for NZD and a -0.1% will be a negative for NZD.  We’ll look for entries after the release in the direction of the signal, provided that the market shows initial confirmation in the direction of the release first, coupled with a decent retracement for proper risk to reward ratio, then we’ll make our entry.