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NZD/USD Fundamental Analysis April 15, 2013 Forecast
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Analysis and Recommendation: The NZD/USD continues to climb trading at 0.8636 gaining 5 pips as the kiwi continues to break recent highs, benefitting from
The NZD/USD continues to climb trading at 0.8636 gaining 5 pips as the kiwi continues to break recent highs, benefitting from traders dumping the JPY and looking for safe havens. Housing New Zealand has reached a $320 million settlement with insurers led by Suncorp Group’s Vero unit over 5,559 homes damaged in the Canterbury earthquakes, $110 million less than the state agency had originally claimed.
The settlement involves for insurers in New Zealand, 23 in the UK and Europe, Lloyds of London and insurance broker Aon and is the largest-ever single insurance payout in New Zealand, according to a statement from Housing Minister Nick Smith. The reduced payout reflected early repayment and a repair timeframe that was cut back to three years from five years, reducing the escalation clause, Smith said. The negotiations “were complex and challenging,” he said. This settlement should buoy markets and consumer sentiment.
Rumors that the Reserve Bank may intervene in the New Zealand dollar market, on the back of an increasingly high kiwi dollar. The kiwi is trading at 86.36 US cents this morning. The Reserve Bank last intervened in the New Zealand dollar market in mid-2007 but now conditions are close to meeting the bank’s strict criteria for intervention.
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 April 12, 2013 actual v. forecast
|
Date |
|
Currency |
|
|
Event |
Actual |
|
Forecast |
|
Previous |
|
|
|
Apr. 12 |
|
CLP |
|
|
Chilean Interest Rate Decision |
5.00% |
|
5.00% |
|
5.00% |
|
|
|
|
|
NZD |
|
|
FPI (MoM) |
-1.3% |
|
|
|
-0.3% |
|
|
|
|
|
JPY |
|
|
Tertiary Industry Activity Index (MoM) |
1.1% |
|
|
|
-1.1% |
|
|
|
|
|
SGD |
|
|
Singaporean GDP (YoY) |
-0.6% |
|
0.5% |
|
1.5% |
|
Upcoming Economic Events that affect the AUD, NZD, JPY and USD
|
Date |
Time |
Currency |
Event |
Forecast |
Previous |
|
Apr. 15 |
02:30 |
AUD |
-1.5% |
||
|
|
03:00 |
CNY |
21.3% |
21.2% |
|
|
|
03:00 |
CNY |
8.0% |
7.9% |
|
|
|
03:00 |
CNY |
10.0% |
9.9% |
|
|
|
03:00 |
CNY |
12.5% |
12.3% |
|
|
|
05:30 |
JPY |
-0.1% |
||
|
|
13:30 |
USD |
6.0 |
9.2 |
|
|
|
14:00 |
USD |
40.0B |
25.7B |
Government Bond Auction
Date Time Country
Apr 16 00:30 Japan
Apr 16 08:30 Spain
Apr 16 09:10 Norway
Apr 16 09:30 Belgium
Apr 16 14:30 UK
Apr 17 09:10 Sweden
Apr 17 09:30 Germany
Apr 18 00:30 Japan
Apr 18 09:30 UK
Apr 18 08:30 Spain
Apr 18 08:50 France
Apr 18 09:50 France
Apr 18 15:00 US
Apr 18 17:00 US
Apr 19 15:30 Italy
About the Author
Barry Normanauthor
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