Welcome to Friday everyone and a look ahead of what’s coming up during the session here
2245GMT – New Zealand – net migration (July). WTF are we looking at migration data on an FX site for? Good question. The reasoning goes that strong migration to New Zealand (heck, we’ve even got kiwis living on Australia going back home!) is a big support for house prices in NZ, and the strong housing market is restricting RBNZ rate cut options. I reckon tthat’s a long bow to draw, but there you go.