NZD/USD Fundamental Analysis September 4, 2012 Forecast

Posted September 03, 2012 5:02 (GMT) | By FX Empire Analyst - Barry Norman | Print | Font Size
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Analysis and Recommendation:

The NZD/USD dipped in early morning trading to 0.8016. Markets had over reacted on Friday to Mr. Bernanke’s address, first showing disappointment and then after taking the time to reinterpret Mr. Bernanke’s words, markets turned to elation, realizing that Mr. Bernanke was setting the stage for the FOMC meeting in two weeks.

The USD weakened on the possibility of QE3 and the commodity currencies as well as commodities in general were able to show large gains on Friday.

US markets are closed for the Labor Day Holiday today so little action is expected.

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 3, 2012 actual v. forecast

Date

Currency

Event

Actual

Forecast

Previous

Sep. 03

KRW

South Korean CPI (YoY)

1.2%

1.4%

1.5%

KRW

South Korean CPI (MoM)

0.4%

0.5%

-0.2%

JPY

Capital Spending

7.70%

8.90%

3.30%

AUD

Company Gross Operating Profits (QoQ)

-0.7%

1.0%

-3.7%

AUD

Retail Sales (MoM)

-0.8%

0.2%

1.2%

CNY

Chinese HSBC Manufacturing PMI

47.60

47.80

Economic Highlights for the upcoming week… Tiers 3 keep your eyes on these

Date	Time	Currency	Event	Forecast	Previous
Sep. 04	05:30	AUD	Interest Rate Decision	3.50%	3.50%
	15:00	USD	ISM Manufacturing Index	50.0	49.8
Sep. 05	02:30	AUD	GDP (QoQ)	0.8%	1.3%
	14:00	CAD	Interest Rate Decision	1.00%	1.00%
Sep. 06	02:30	AUD	Employment Change	5.0K	14.0K
	02:30	AUD	Unemployment Rate	5.3%	5.2%
	12:00	GBP	Interest Rate Decision	0.50%	0.50%
	12:45	EUR	Interest Rate Decision	0.75%	0.75%
Sep. 07	15:00	CAD	Ivey PMI	58.0	62.8

Government Bond Auction

Date Time Country

Sep 04 00:30 Japan Auctions 10Y JGBs

Sep 04 09:15 Austria Bond auction

Sep 04 09:30 Belgium Auctions Dec 2012 (3M) & Feb 2013 (6M) T-bills

Sep 04 14:30 UK Details 0.75% 2034 I/L Gilt & 1.75% Sep 2022 Gilt on Sep

Sep 05 09:10 Sweden Nominal bond auction

Sep 05 09:30 Germany Eur 5.0bn Sep 2022 Bund auction

Sep 05 09:30 UK 4.5% 2042 Gilt auction

Sep 06 00:30 Japan Auctions 30Y JGBs

Sep 06 08:30 Spain Bono auction

Sep 06 08:50 France OAT auction

Sep 06 09:10 Sweden I/L bond auction

Sep 06 15:00 US Announces 3Y Notes on Sep 11, 10Y Notes on Sep 12 &

Sep 07 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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