RBNZ to release its inflation expectation today.

ANZ Bank recently came out and said that it thought the RBNZ would be forced to put the official cash rate down twice starting with a rate drop in June and another in July. This saw the Kiwi Dollar fall off its recent highs 0.7560 and this morning weaker than expected Producer Prices data helped push the Kiwi Dollar to 0.7370 at 8.45am AEST. 

But it’s 1.00pm AEST I am waiting for today as the RBNZ will release its latest inflation expectation for the New Zealand economy and with recent economic data softening it won’t surprise me to see traders price in a dovish RBNZ inflation statement and the Kiwi Dollar fall even further. 

Members of LTG GoldRock can access the full report in Today's GoldRock Insider Report.

Traders question the private USA ADP Employment Report.

You will notice that on the Wednesday prior to the official US employment report the market gets to see what a private research institute called ADP thinks about job creation in the USA and how many jobs were created in the previous month. The US has been creating on average over 200,000 jobs per month for over 12 months now and the unemployment rate has come down to 5.5%. However last month the US economy created just 126,000 jobs which sent shock waves through the markets and put a big question mark on the economy.

LTG GoldRock Members can find the full report in Today's GoldRock Insider Report.