NZD/USD Fundamental Analysis August 23, 2012, Forecast

Posted August 22, 2012 5:37 (GMT) | By FX Empire Analyst - Barry Norman | Print | Font Size
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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

Barry produces a private Daily Market Review newsletter that is distributed around the globe to over 25,000 subscribers and recently published a book on Options Trading that is available from amazon.com

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