NZD/USD Fundamental Analysis October 5, 2012 Forecast
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Analysis and Recommendation:
The NZD/USD is trading at 0.8214 back on its uptrend after a minor retraction over Chinese and EU news and releases. The kiwi is strong today after benefiting from the RBA rate reduction and hopes of new rounds of QE in the Asian region, which would help support the NZ economy.
Traders will wait for news from the BoJ meetings, from the ECB later today and tomorrow’s US nonfarm payroll data, which could all affect the strength of the USD and the NZD.
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 4, 2012 actual v. forecast
|
Date |
|
Currency |
|
|
Event |
Actual |
|
Forecast |
|
Previous |
|
|
|
Oct. 04 |
|
AUD |
|
|
Building Approvals (MoM) |
6.4% |
|
4.7% |
|
-21.2% |
||
|
|
|
AUD |
|
|
Retail Sales (MoM) |
0.2% |
|
0.4% |
|
-0.8% |
Upcoming Economic Events that affect the AUD, NZD, JPY and USD
|
Date |
Time |
Currency |
Event |
Forecast |
Previous |
|
Oct. 05 |
13:30 |
USD |
0.2% |
0.0% |
|
|
|
13:30 |
USD |
110K |
96K |
|
|
|
13:30 |
USD |
34.4 |
34.4 |
|
|
|
13:30 |
USD |
125K |
103K |
Government Bond Auction
Date Time Country
Oct 05 15:30 Italy
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