What is it? It checks the interest rate at which banks lend balances held at the RBNZ to other banks overnight.
Short term interest rates are the paramount factor in currency valuation - traders look at most other indicators merely to predict how rates will change in the future.
When? June 10th at 5:00pm Eastern Time.
Trading Tip: If the actual number is higher than the forecast, you can expect the NZD to rise.
What is it? Carney is due to speak, along with Chancellor of the Exchequer George Osborne, at the Annual Mansion House Dinner, in London.
As head of the central bank, which controls short term interest rates, he has more influence over the nation's currency value than any other person. Traders scrutinize his public engagements as they are often used to drop subtle clues regarding future monetary policy.
When? June 10th at 4:00pm Eastern Time.
Trading Tip: If the announcement will hint towards higher interest rates, you can expect the GBP to rise.
Here are 4 tips for today's trading. This will help you decide where you should invest and what to look for:
1. Bonds down, yields up
Prices for all major 10-year government bonds resumed their slide Wednesday, pushing yields up. U.S. Treasuries are now yielding nearly 2.5%, and German yields have hit 1% for the first time since September.
The turmoil is a clear signal that investors are bracing for higher interest rates -- whether the Federal Reserve is ready for its first rate hike in a decade or not.
2. Earnings
Women's clothing franchise Francesca's (FRAN) will report before the open.
Krispy Kreme (KKD), Men's Warehouse (MW) and Box (BOX), an online file sharing and cloud storage company, will report after the close.
Box made a sparkling debut in January when its stock climbed 66% on its first day of trading, but its share prices have since fallen by about 30%.
3. International markets overview
European markets are mostly moving up in early trading, while Asian markets ended with mixed results.
The U.S. dollar was weaker against all major currencies.
4. Tuesday market recap
Wall Street performance was unimpressive Tuesday. The Dow Jones industrial average and S&P 500 were flat while the Nasdaq dipped by 0.2%.
