NZD/USD Fundamental Analysis August 23, 2012, Forecast

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Analysis and Recommendation:

The NZD/USD dipped a bit in early Asian trading on Wednesday, trading at 0.8086 off by 0.0022. The kiwi is poised for a 0.5% weekly decline as signs of life in the US economy have taken the gloss off expectations for a third round of money printing by the Federal Reserve. Traders are awaiting the release of the FOMC minutes later today, which might help predict the FOMC’s decision come September.

The currency pared its weekly drop after German Chancellor Angela Merkel publicly backed the European Central Bank buying Spanish government bonds as a means to stave off a regional debt crisis, stoking investors’ appetite for risk-sensitive assets.

That had been derailed by a string of better-than-expected US figures, including upbeat housing data, which has sapped expectations the Fed will embark on a third round of asset purchases to reinvigorate the world’s biggest economy.

The New Zealand input and output producer prices rose at respective paces of 0.6% and 0.3% in the June quarter as low hydro lake levels lifted gas and electricity costs in the period.

FxEmpire provides in-depth analysis for each currency and commodity we review. Fundamental analysis is provided in three components. We provide a detailed monthly analysis and forecast at the beginning of each month. Then we provide more up to the data analysis and information in our weekly reports.

Economic Data August 23, 2012 actual v. forecast

Date

 

Currency

 

 

 

Event

Actual

 

Forecast

 

Previous

Aug. 22

 

JPY

 

 

 

Trade Balance 

-0.33T

 

-0.46T 

 

-0.32T 

 

 

AUD

 

 

 

MI Leading Index (MoM) 

0.5%

 

 

 

0.9% 

 

 

TWD

 

 

 

Taiwanese Unemployment Rate 

4.25%

 

4.30% 

 

4.24% 

 

Upcoming Economic Events that affect the AUD, NZD, JPY and USD

Date

Time

Currency

Event 

Forecast

Previous

Aug 23

7:30pm

AUD

RBA Gov Stevens Speaks

   
 

8:00pm

AUD

CB Leading Index m/m

 

0.4%

 

3:45am

JPY

BOJ Gov Shirakawa Speaks

   
 

8:30am

USD

Core Durable Goods Orders m/m

0.5%

-1.4%

 

Aug 24

1:00am

AUD

CB Leading Index m/m

   
 

8:45am

JPY

BOJ Gov Shirakawa Speaks

 

0.4%

 

1:30pm

USD

Core Durable Goods Orders m/m

0.5%

-1.4%

 

1:30pm

USD

Durable Goods Orders m/m

2.8%

1.3%

 

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About: FX Empire Analyst - Barry Norman

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