NZD/USD Fundamental Analysis August 28, 2012, Forecast

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Analysis and Recommendation:

The NZD/USD is trading at 0.8100 on Monday morning, after falling a few pips. The USD regained some strength over the weekend on a positive Durable Goods print, even though core goods was below forecast the total Durable Goods was well above forecast.

The New Zealand dollar fell from a two-week high as data showing weaker manufacturing in China while factories in Europe remain in contraction.

That took some of the gloss off the increasing expectations that the US Federal Reserve will act to stimulate the world’s biggest economy.

China’s HSBC Flash PMI, a preliminary gauge of manufacturing, fell to 47.8 this month from 49.3 on a scale where a reading below 50 signals contraction.

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 24 & 27, 2012 actual v. forecast (there were no releases for the AUD, NZD or JPY on Monday morning)

Date

 

Currency

 

 

 

Event

Actual

 

Forecast

 

Previous

 

 

Aug. 24

 

AUD

 

 

 

RBA Governor Stevens Speaks 

 

 

 

 

 

 

 

 

 

JPY

 

 

 

BoJ Governor Shirakawa Speaks 

 

 

 

 

 

 

 

 

 

GBP

 

 

 

Business Investment (QoQ) 

-1.5%

 

2.8% 

 

1.9% 

 

 

 

 

GBP

 

 

 

GDP (QoQ) 

-0.5%

 

-0.5% 

 

-0.7% 

 

 

 

 

GBP

 

 

 

GDP (YoY) 

-0.5%

 

-0.6% 

 

-0.8% 

 

 

 

 

USD

 

 

 

Core Durable Goods Orders (MoM) 

-0.4%

 

0.5% 

 

-2.2% 

   

 

 

USD

 

 

 

Durable Goods Orders (MoM) 

4.2%

 

2.4% 

 

1.6% 

   

 

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

Date

Time

Currency

Event

Previous

Aug. 28

15:00

USD

CB Consumer Confidence 

65.9 

 

02:30

AUD

Construction Work Done (QoQ) 

5.5% 

Aug. 29

23:45

NZD

Building Consents (MoM) 

5.7% 

 

00:50

JPY

Retail Sales (YoY) 

0.2% 

 

02:30

AUD

Building Approvals (MoM) 

-2.5% 

Aug. 30

02:30

AUD

Private New Capital Expenditure (QoQ) 

6.1% 

Aug. 31

00:30

JPY

Tokyo Core CPI (YoY) 

-0.6% 

 

00:50

JPY

Industrial Production (MoM) 

0.4% 

Government Bond Auctions

Date Time Country 

28/8  10:30  Spain

28/8  11:00  Italy 

28/8  19:00  US 

29/8  11:00  Italy 

29/8  19:00  US 

30/8  05:35  Japan

30/8  11:00  Italy 

30/8  19:00  US

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About: FX Empire Analyst - Barry Norman

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