NZD/USD Fundamental Analysis July 31, 2012, Forecast

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 this morning at 0.8085. The kiwi is expected to climb this week. Today eco data showed that building consents climbed for the month. Compared to a decline of 7.1% last month, June reported an increase of 5.7%.

ECB President Mario Draghi’s pledge last week to do “whatever it takes” to preserve the euro has been supported by German Chancellor Angela Merkel and French President Francois Hollande who said they’ll do “everything” necessary to protect the single currency.

The kiwi will be relatively well supported in this environment.

Market reaction to his comments will come swiftly.

Spain, Italy, Germany and Belgium are all set to sell debt this week. Last week, Spain’s 10-year yield fell 52 basis points to 6.74 percent, the biggest weekly drop since Dec. 2, according to Bloomberg, as the nation appeared closer to asking for a 300 billion euro bailout.

The Fed’s two-day policy meeting starts on Wednesday and follows a government report on Friday which showed economic growth in the world’s largest economy slowed in the second quarter. That’s underpinned further hopes the Fed will be forced to stimulate the US economy.

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 29-30, 2012 actual v. forecast

Date

 

Currency

 

 

 

Event

Actual

 

Forecast

 

Previous

 

 

Jul. 29

 

KRW

 

 

 

South Korean manufacturing BSI Index 

69.00

 

 

 

81.00 

   

 

 

NZD

 

 

 

Building Consents (MoM) 

5.7%

 

 

 

-7.1% 

 

 

Jul. 30

 

JPY

 

 

 

Industrial Production (MoM) 

-0.1%

 

1.5% 

 

-3.4% 

 

 

 

 

AUD

 

 

 

HIA New Home Sales (MoM) 

2.8%

 

 

 

0.7% 

 

 
                           

 

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

Date

Time

Currency

 Event

Previous

Jul 31

1:00

NZD

NBNZ Business Confidence

12.6

 

1:30

AUD

Building Approvals m/m

27.3%

 

1:30

AUD

Private Sector Credit m/m

0.5%

 

1:30

JPY

Average Cash Earnings y/y

-1.1%

 

12:30

USD

Core PCE Price Index m/m

0.1%

 

12:30

USD

Employment Cost Index q/q

0.4%

 

12:30

USD

Personal Spending m/m

0.0%

 

13:00

USD

S&P/CS Composite-20 HPI y/y

-1.9%

 

13:45

USD

Chicago PMI

52.9

 

14:00

USD

CB Consumer Confidence

62.0

Aug 1

1:30

AUD

HPI q/q

-1.1%

 

12:15

USD

ADP Non-Farm Employment Change

176K

 

14:00

USD

ISM Manufacturing PMI

49.7

 

18:15

USD

FOMC Statement

 

Aug 2

1:30

AUD

Retail Sales m/m

0.5%

 

1:30

AUD

Trade Balance

-0.29B

 

12:30

USD

Unemployment Claims

 
 

14:00

USD

Factory Orders m/m

0.7%

 

23:30

AUD

AIG Services Index

48.8

Aug 3

12:30

USD

Non-Farm Employment Change

80K

 

12:30

USD

Unemployment Rate

8.2%

 

12:30

USD

Average Hourly Earnings m/m

0.3%

 

14:00

USD

ISM Non-Manufacturing PMI

52.1

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    
Share Your Thoughts: Post a Comment


Your email address will not be published.


include_once( __DIR__ . "/request_context.php");