NZD/USD Fundamental Analysis August 6, 2012, Forecast

Posted August 03, 2012 5:04 (GMT) | By FX Empire Analyst - Barry Norman | Print | Font Size
Add a comment

Category:

Fundamental Reports

Get Forex buy/sell signals directly to your email and by SMS.
To learn more click here

Analysis and Recommendation:

The NZD/USD is trading at 0.8130 adding 0.0027 in today’s session.

After the ECB dashed investors’ hopes of direction and plans for the current and ongoing EU crisis, as Draghi did less than nothing, markets reacted turning negative on all european assets. Markets returned to risk aversion mode with gold tumbling and the USD moving up but the strength was in the JPY.

The New Zealand dollar rose to a record high against the euro after European Central Bank president Mario Draghi provided investors with assurances but no immediate action to curb the region’s debt crisis.

The kiwi rose as high as 66.66 euro cents, the highest since the single currency entered circulation in 2002.

Commodity currencies were the benefactors in the yesterday’s market shifts.

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 recent analysis and information in our weekly reports and we provide daily updates and outlooks.

Economic Data August 2, 2012 actual v. forecast

Date

Currency

Event

Actual

Forecast

Previous

Aug. 03

AUD

AIG Services Index

46.5

48.8

CNY

Chinese Non-Manufacturing PMI

55.60

56.70

CNY

Chinese HSBC Services PMI

53.10

52.30

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

Date	Time	Currency	Event	Forecast	Previous
Aug 6	1:30	AUD	ANZ Job Advertisements m/m		-1.2%
	22:45	NZD	Labor Cost Index q/q		0.5%
Aug 7	4:30	AUD	Cash Rate	3.50%	3.50%
	4:30	AUD	RBA Rate Statement
	23:50	JPY	Current Account		0.28T
Aug 8	1:30	AUD	Home Loans m/m		-1.2%
	12:30	USD	Prelim Nonfarm Productivity q/q		-0.9%
	12:30	USD	Prelim Unit Labor Costs q/q		1.3%
	14:30	USD	Crude Oil Inventories
	22:45	NZD	Employment Change q/q		0.4%
	22:45	NZD	Unemployment Rate		6.7%
	23:50	JPY	Core Machinery Orders m/m		-14.8%
Aug 9	1:30	AUD	Employment Change		-27.0K
	1:30	AUD	Unemployment Rate		5.2%
	12:30	USD	Trade Balance		-48.7B
	12:30	USD	Unemployment Claims
Aug 10	1:30	AUD	RBA Monetary Policy Statement
	12:30	USD	Import Prices m/m		-2.7%
	18:00	USD	Federal Budget Balance		-59.7B

Want to read more articles like this one?

Enter your e-mail address and read FX Empire content directly from your inbox.

We value your privacy. Your e-mail address will not be shared.

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

View all of FX Empire Analyst - Barry Norman's Articles