Let's Have a look on Forex Market Updates

RBNZ Interest Rate Decision, New Zealand

WHAT IT INFLUENCES: NZD and its subsequent pairs

WHAT'S HAPPENING: The RBNZ Interest Rate Decision is announced by the Reserve Bank of New Zealand. If the RBNZ is hawkish about the economy's inflationary outlook and raises the interest rates, it is positive, or bullish, for the NZD.

Retail Sales, Eurozone:

WHAT IT INFLUENCES: EUR and its subsequent pairs

WHAT'S HAPPENING: The Retail Sales released by the Eurostat is a measure of sales changes in the eurozone retail sector. The report displays the retail sector performance in the short term by the change in percentage. The changes are widely accepted as consumer spending indicator. Usually, positive economic growth predicts bullish sentiment for the EUR, while a low reading is seen as negative, or bearish, for the EUR.

PMI Construction, UK

WHAT IT INFLUENCES: GBP and its subsequent pairs

WHAT'S HAPPENING: The PMI Construction released by the Chartered Institute of Purchasing & Supply and Markit Economics shows business conditions within the U.K. construction sector. It is worth noting that the construction sector does not influence GDP as much as the manufacturing industry does.

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