NZD/USD Fundamental Analysis July 24, 2012, Forecast

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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%

13:55

USD

Revised UoM Consumer Sentiment

72.0

 

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