NZD/USD Fundamental September 17, 2012, Forecast

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Analysis and Recommendation:

The NZD/USD is trading this morning at 0.8346 as commodity currencies soared around the world on the new QE3 package introduced by the US Federal Reserve yesterday. The Canadian, Australian and New Zealand dollars soared against the greenback today. The Federal Reserve’s monetary policy announcement was not only good for stocks but also for commodities. The CAD, AUD and NZD are also risk currencies and the hope is that more stimulus for the U.S. economy will stabilize global growth, lending support to export-dependent nations such as Canada, Australia and New Zealand.

With China due to take some action, we should see the kiwi continue to trade strong over the short term

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 14, 2012 actual v. forecast

Date

Time

 

Currency

 

Importance

 

Event

Actual

 

Forecast

 

Previous

Sep. 14

05:30

 

JPY

 

 

 

Industrial Production (MoM) 

-1.0%

 

-1.2% 

 

-1.2% 

 

Economic Data September 13, 2012 actual v. forecast for the US, since markets were too focused on the FOMC, it is important to look at the entire picture.

Date

Time

 

Currency

 

Importance

 

Event

Actual

 

Forecast

 

Previous

 

 

 

13:30

 

USD

 

 

 

Core PPI (MoM) 

0.2%

 

0.2% 

 

0.4% 

 

 

 

13:30

 

USD

 

 

 

PPI (MoM) 

1.7%

 

1.1% 

 

0.3% 

 

 

 

13:30

 

USD

 

 

 

Initial Jobless Claims 

382K

 

370K 

 

367K 

  

 

13:30

 

USD

 

 

 

Continuing Jobless Claims 

3283K

 

3318K 

 

3332K 

  

 

13:30

 

USD

 

 

 

PPI (YoY) 

2.0%

 

1.4% 

 

0.5% 

 

 

 

13:30

 

USD

 

 

 

Core PPI (YoY) 

2.5%

 

2.6% 

 

2.5% 

 

 

 

17:30

 

USD

 

 

 

Interest Rate Decision 

0.25%

 

0.25% 

 

0.25% 

 

 

 

17:30

 

USD

 

 

 

FOMC Statement 

 

 

 

 

 

 

 

 

19:00

 

USD

 

 

 

Federal Budget Balance 

-191.0B

 

-155.0B 

 

-69.6B 

 

 

 

 

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

Date

Time

Currency

 

Event

 

Forecast

Previous

 Sep. 18

23:45

NZD

 

Current Account 

 

-1.66B 

-1.31B 

Government Bond Auction

Date Time Country 

Sep 17 09:10 Slovakia

Sep 17 10:00 Norway 

Sep 18 08:30 Spain 

Sep 18 09:10 Greece 

Sep 18 09:30 Belgium 

Sep 19 09:10 Sweden 

Sep 19 09:30 Germany 

Sep 19 09:30 Portugal 

Sep 19 10:00 Norway 

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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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