NZD/USD Fundamental Analysis October 19, 2012 Forecast

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NZD/USD Fundamental Analysis October 19, 2012 Forecast

NZD/USD Fundamental Analysis October 19, 2012 Forecast

Analysis and Recommendation:

The NZD/USD dipped a bit but is trading fairly flat this morning. The pair is trading at 0.8209 The New Zealand dollar rose after Moody’s Investors Service affirmed Spain’s investment grade credit rating, stoking risk appetite as traders position themselves ahead of a European Union summit.

The US dollar fell against most of its trading peers as Spain kept its Baa3 debt rating, quashing speculation the indebted nation was going to be cut to junk. It comes as Spanish officials say the nation will decided on whether to seek help from the European Central Bank’s bond buying fund within weeks.

The kiwi had little reaction this morning to Chinese data, which showed retail sales well above expectations and GDP met forecast but showed a continued slowdown in China, falling from 7.6% to 7.4%.

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 18, 2012 actual v. forecast

Date

 

Currency

 

 

Event

Actual

 

Forecast

 

Previous

 

 

Oct. 18

 

AUD

 

 

NAB Quarterly Business Confidence 

-2.00

 

 

 

-2.00 

 

 

 

 

CNY

 

 

Chinese Fixed Asset Investment (YoY) 

20.5%

 

20.2% 

 

20.2% 

 

 

 

 

CNY

 

 

Chinese GDP (YoY) 

7.4%

 

7.4% 

 

7.6% 

 

 

 

 

CNY

 

 

Chinese Industrial Production (YoY) 

9.2%

 

9.0% 

 

8.9% 

 

 

 

 

CNY

 

 

Chinese Retail Sales (YoY) 

14.2%

 

13.2% 

 

13.2% 

 

 

 

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

Date

Time

Currency

Event

Forecast

Previous

Oct. 19 

15:00

USD

Existing Home Sales 

4.73M 

4.82M 

Government Bond Auction

Date Time Country 

Oct 21 10:30 Portugal 

Oct 22 09:10 Norway 

Oct 23 08:30 Spain 

Oct 23 14:30 UK 

Oct 23 17:00 US 

Oct 24 09:10 Sweden 

Oct 24 09:30 Germany 

Oct 24 14:30 Sweden 

Oct 24 15:30 Italy  

Oct 24 16:30 US 

Oct 25 00:30 Japan 

Oct 25 09:10 Sweden 

Oct 25 15:30 Italy  

Oct 25 17:00 US 

Oct 26 09:10 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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