NZD/USD Fundamental Analysis August 8, 2012, Forecast

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By FX Empire Analyst - Barry Norman
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Analysis and Recommendation:

The NZD/USD is trading at 0.8208. The kiwi broke above 82 US cents for the first time in more than three months as stocks on Wall Street and commodity prices rallied. Positive sentiment remains strong in the markets and traders are eyeing potential in the commodity currencies and with the potential of monetary stimulus from the PBoC this is helping to support the currency Stimulus would benefit all of China's trading partners.

With US stocks and commodity prices firming, appetite for the trans-Tasman currencies was stoked ahead of the Reserve Bank of Australia's monetary policy review, where policy makers are expected to keep the target cash rate unchanged at 3.5 per cent.

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 7, 2012 actual v. forecast

Date

 

Currency

 

 

 

Event

Actual

 

Forecast

 

Previous

 

 

Aug. 07

 

GBP

 

 

 

BRC Retail Sales Monitor (YoY) 

0.1%

 

-0.2% 

 

1.4% 

 

 

 

 

AUD

 

 

 

AIG Construction Index 

32.6

 

 

 

34.8 

 

 

 

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

Date

Time

Currency

Event 

Previous

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

Government Bond Auctions

Date  Time  Country 

Aug 08  09:30  Germany

Aug 08  10:00  Norway

Aug 08  15:30  Italy

Aug 08  17:00  US

Aug 09  15:30  Italy

Aug 09  17:00  US

Aug 10  10:00  Belgium

Aug 13  09:10  Italy

Aug 13  09:10  Norway

Aug 13  09:30  Germany

 

 

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