NZD/USD Fundamental Analysis October 1, 2012 Forecast

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Analysis and Recommendation:

The NZD/USD is trading at 0.8348 and is headed for a 4.3 percent quarterly gain as fund managers reposition their global portfolios against the backdrop of increased optimism after China’s central bank became the latest to inject greater liquidity into its financial system.

Everyone thinks the liquidity measures are enough to keep high-yielders in demand, which they are the kiwi’s been one of the better performing currencies against everyone today.

New Zealand authorities issued 1.9 percent more new building consents last month, the third straight monthly gain, according to government figures. The data showed more evidence the Canterbury rebuild is gathering pace, with $47 million of earthquake related consents in August.

Investor sentiment was bolstered by the Spanish government’s budget, which aims to cut the 2013 deficit to 4.5 percent of gross domestic product from a target of 6.3 percent this year. The budget is seen as a key step in the Mediterranean nation tapping a formal bail-out under the European Central Bank’s bond-buying program for its ailing banking system.

The US dollar weakened on disappointing housing data and durable goods data yesterday

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 September 28, 2012 actual v. forecast

Date

 

Currency

 

 

Event

Actual

 

Forecast

 

Previous

 

 

Sep. 28

 

KRW

 

 

South Korean Industrial Production (YoY) 

0.3%

 

0.4% 

 

0.2% 

  

 

 

KRW

 

 

South Korean Industrial Production (MoM) 

-0.7%

 

-0.6% 

 

-1.9% 

  

 

 

JPY

 

 

Unemployment Rate 

4.2%

 

4.3% 

 

4.3% 

 

 

 

 

JPY

 

 

Tokyo Core CPI (YoY) 

-0.4%

 

-0.3% 

 

-0.5% 

 

 

 

 

JPY

 

 

Industrial Production (MoM) 

-1.3%

 

-0.5% 

 

-1.0% 

 

 

 

 

JPY

 

 

Retail Sales (YoY) 

1.8%

 

-0.2% 

 

-0.8% 

 

 

 

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

Date

Time

Currency

Event

Forecast

Previous

Oct. 01

00:50

JPY

Tankan Large Manufacturers Index 

-3 

-1 

Government Bond Auction

Date Time Country 

Oct 01 10:00 Norway 

Oct 02 09:15 Austria 

Oct 02 09:30 Belgium 

Oct 02 09:30 UK 

Oct 02 14:30 UK 

Oct 03 09:10 Sweden 

Oct 03 10:00 Norway 

Oct 04 08:30 Spain 

Oct 04 08:50 France 

Oct 04 15:00 US 

Oct 05 15:30 Italy 

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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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