NZD/USD Fundamental Analysis September 11, 2012, Forecast

Posted September 10, 2012 4:07 (GMT) | By FX Empire Analyst - Barry Norman | Print | Font Size
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Analysis and Recommendation:

The NZD/USD kicks off the week strong at 0.8128 adding 0.00005 pips after a positive ending a positive week. The pair remains well above the 80 level seem to have ongoing momentum.

Negative eco data from China over the weekend (see chart below) as well as disappointing numbers from Japan this morning did not seem to weigh heavily on the kiwi.

The kiwi has been strong ever since the announcement on Thursday that the ECB would buy bonds from weaker eurozone economies, thus providing financial support and helping to lower their borrowing costs. Friday, the US jobs data was disappointing but was the final piece of the FOMC puzzle, as markets are now certain that Mr. Bernanke and associates will offer some sort of QE come the 13th meeting. This weakened the US dollar giving the added momentum to the kiwi.

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 10, 2012 actual v. forecast

Date	Time	Currency	Event	Actual	Forecast	Previous
Sep. 10	00:50	JPY	Adjusted Current Account	0.34T	0.39T	0.77T
	00:50	JPY	GDP (QoQ)	0.2%	0.3%	0.3%
	00:50	JPY	GDP Price Index (YoY)	-0.9%	-1.1%	-1.1%
	00:50	JPY	Bank Lending (YoY)	0.9%		0.7%
	02:00	CNY	Chinese Trade Balance	26.66B	19.80B	25.10B
	02:00	CNY	Chinese Exports (YoY)	2.70%	3.00%	1.00%
	02:30	AUD	Home Loans (MoM)	-1.0%	0.1%	1.0%

Chinese Economic Data released on September 9, 2012 actual v. forecast ( this is important )

Sep. 09