The key economic events for this weekNovember 25-29
1. Monday- NZD Retail Sales (q/q) @10:45pm
2. Wednesday - USD GDP Growth Rate (q/q) @ 2:30pm
3. Friday –CAD GDP Growth Rate (m/m) @2:30pm
New Zealand RETAIL SALES- The New Zealand retail sales is scheduled to be released on Monday. It is expected to show the New Zealand economy expanded by 0.5% in the third quarter. A better than projected estimate would be positive for the Kiwi while a worse than projected estimate would be negative for Kiwi.
US GROSS DOMESTIC PRODUCT - The United States will release its 2nd estimate data for gross domestic product quarter of quarter on Wednesday. The US economy has outpaced its contenders in the second quarter by mounting at anannual rate of 2.1%.Domestic consumption and government spending grew at faster rates, while a fall in exports and a shoddier inventory figure had a negative impact on growth.The gross domestic product is expected to show a 1.9% growth in November. A better than expected outcome will strengthen the USD while a weaker than expected will be negative for USD.
CANADIAN GROSS DOMESTIC PRODUCT - Canada will release its gross domestic figure on Friday. The gross domestic figure is projected to increase by 0.2% m/m for the month of November, which is a bit higher than the 0.1% in the prior month. A better than projected estimate would be positive for the CAD while a worse than projected estimate would be negative for CAD.