Kiwi dropped to its lowest level since February

•      Kiwi dropped to its lowest level since February

•      The Reserve Bank of New Zealand left the official cash rate unchanged at 3.5%

•      RBNZ Gov. Wheeler repeated that the exchange rate has yet to adjust materially to the lower commodity prices and that its current level remains unjustified and unsustainable

•      Chinese CPI rose at a slower pace of 2.0% yoy in August from 2.3% yoy in July, missing forecast of 2.2% yoy. Added to the drop in the country’s imports, amplifies the case for additional measures to support the Chinese economy. Further measures could support AUD and NZD.

•       Strong employment report from Australia

•      The unemployment rate declined from its 12-year high to 6.1% from 6.4%, beating estimates of a decline to 6.3%

•      Bank of England Gov. Carney and other MPC members hearing on the August inflation report

•      as the UK economy continues to normalize, the Bank will need to start to raise interest rates to achieve inflation target. On the uncertainty surrounding the Scottish referendum, the Bank has contingency plans

•      Today’s action:

•      Eurozone: German final CPI for and French CPI both for August

•      Sweden: PES unemployment rate, the official unemployment rate and the country’s CPI, all for August

•      US: initial jobless claims for the week ended September 6

•      Canada: the new housing price index for July

•      Speakers: ECB President Mario Draghi speaks