NZD/USD Fundamental Analysis October 12, 2012 Forecast

Posted October 11, 2012 7:10 (GMT) | By FX Empire Analyst - Barry Norman | Print | Font Size
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NZD/USD Fundamental Analysis October 12, 2012 Forecast

Analysis and Recommendation:

The NZD/USD is trading at 0.8178 adding in this morning’s session. The local currency was little changed after New Zealand’s manufacturing activity shrank for a fourth month in September, as new orders fell to the lowest level since May. The BNZ-BusinessNZ performance of manufacturing index (PMI) rose to 48.2 last month from 47.2 in August, indicating the pace of contraction is slowing.

Today’s manufacturing survey came as New Zealand’s consumer confidence fell to 110.5 October from 111.9, with kiwis remaining cautious about spending money and put more aside for a rainy day.

New Zealand food prices fell 0.9 in September, snapping four months of gains, reflecting lower prices for groceries and fruit and vegetables. Grocery prices fell 1.6 percent, fruit and vegetables eased 2.2 percent, while non-alcoholic beverages decreased 0.5 percent. Australia’s job report today showed an increase in jobs, which is a positive for the kiwi as Australia is its major trading partner, with more people back at work the more NZ can expect to export.

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 October 11, 2012 actual v. forecast

Date	Currency	Event	Actual	Forecast	Previous
Oct. 11	JPY	Core Machinery Orders (MoM)	-3.3%	-2.5%	4.6%
	JPY	Bank Lending (YoY)	1.0%		0.9%
	AUD	MI Inflation Expectations	2.6%		2.4%
	AUD	Employment Change	14.5K	3.8K	-9.1K
	AUD	Unemployment Rate	5.4%	5.3%	5.1%
	KRW	South Korean Interest Rate Decision	2.75%	2.75%	3.00%
	MYR	Malaysian Industrial Production (YoY)	-0.7%	-2.0%	2.9%
	JPY	Household Confidence	40.1	41.2	40.5

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

Date	Time	Currency	Event	Forecast	Previous
Oct. 12	00:50	JPY	Tertiary Industry Activity Index (MoM)	0.5%	-0.8%
	13:30	USD	Core PPI (MoM)	0.2%	0.2%
	13:30	USD	PPI (MoM)	0.8%	1.7%
	14:55	USD	Michigan Consumer Sentiment	77.9	78.3

Government Bond Auction

Date Time Country

Oct 12 09:30 Germany

Oct 12 10:00 Belgium

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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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