It's got to be a good day of kiwi dollar and AUD

The New Zealand dollar traded near a five-month low because investors are waiting for the new coalition's policies. But today it may edge higher a little bit by the employment change at 4.45. I think there is the possibility that employment change in New Zealand may edge higher than -0.2% and it may give positive for the currency. I also suggest to use 0.7200 points as the resistance level.
The third quarter CPI in Australia may support its currency to break up the corridor at 0.7850 level as the forecast is 0.8% higher than last time. If CPI is better than expected, AUD may rise up. In contrast, if CPI may fall lower than forecasting, Australian dollar may drop lower and continue its bearish main trend.

Moreover, U.K. GDP may give a small negative for pound and London stock market. If the 3rd quarter GDP at 15.30 will be lower than 1.4%, U.K. pound and stock market may slightly drop down. In my opinion, Bank of Canada may keep the interest rate at 1% (21.00) so Loonie may move follow other factors in the markets. Today U.S. dollar may loss its strength a little bit from some macroeconomic indexes: Core durable goods at 19.30, new home sales at 21.00 and crude oil inventories at 21.30.
Crude price may fall lower by rising supply even OPEC reported the reducing oil in stock from the tensions in Iraq on Monday. However, Iraq announced to increase the production in South to compensate the North combined with the forecasting U.S. oil stock rise so today Brent may move sideways up.

By Niramon Nitnitiphruet
Financial analyst, Olymp Trade

Olymp Trade Review