NZD/USD Fundamental Analysis July 24, 2012, Forecast

Posted July 23, 2012 6:44 (GMT) | By FX Empire Analyst - Barry Norman | Print | Font Size
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Analysis and Recommendation:

The NZD/USD is trading in the morning session at 0.7938 dipping 58pips as the US dollar gathers momentum on negative news from the EU. Over the weekend, the Troika announced that they have terminated funding to Greece. One has to wonder, why Greece has stayed off the financial front pages for the last 10 days.

The kiwi rose to record high against the euro after ministers finally approved a €100 billion bailout for Spain’s banking sector.

The New Zealand dollar rose as a high as 65.98 euro cents, the most since the single currency entered circulation in 2002.

The move did little to ease concern about Europe’s woes, with Spanish Prime Minister Mariano Rajoy forecasting a second year of recession and Valencia becoming the first region to seek a rescue from the nation’s central government.

There is not eco data or political news expected from New Zealand today, so the pair will move with the US dollar.

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 July 23, 2012 actual v. forecast

Date

Currency

Event

Actual

Forecast

Previous

Jul. 23

TWD

Taiwanese Unemployment Rate

4.24%

4.30%

4.25%

AUD

PPI (QoQ)

0.5%

0.3%

-0.3%

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

Date	Time	Currency	Event	Previous
Jul 24	13:00	USD	Flash Manufacturing PMI	52.5
	22:45	NZD	Trade Balance	301M
	23:50	JPY	Trade Balance	-0.66T
Jul 25	0:00	AUD	CB Leading Index m/m	-1.4%
	1:30	AUD	CPI q/q	0.1%
	1:30	AUD	Trimmed Mean CPI q/q	0.3%
	14:00	USD	New Home Sales	369K
	14:30	USD	Crude Oil Inventories
	21:00	NZD	Official Cash Rate	2.50%
	21:00	NZD	RBNZ Rate Statement
Jul 26	0:10	JPY	BOJ Gov Shirakawa Speaks
	12:30	USD	Core Durable Goods Orders m/m	0.7%
	12:30	USD	Unemployment Claims
	14:00	USD	Pending Home Sales m/m	5.9%
	23:30	JPY	Tokyo Core CPI y/y	-0.6%
	23:50	JPY	Retail Sales y/y	3.6%
Jul 27	12:30	USD	Advance GDP q/q	1.9%
Jul 27	13:55	USD	Revised UoM Consumer Sentiment	72.0

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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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