NZD/USD Fundamental Analysis April 5, 2013 Forecast

Analysis and Recommendation:

The NZD/USD is trading at 0.8409 down by 8 points this morning. The US dollar had weakened against most of its crosses after a lackluster jobs report from the ADP private payroll service which might indicate what markets can expect on Friday from the official release. The kiwi gained in yesterday’s session and seems to be giving up a bit of that gain. There are no releases in New Zealand today, while market focus is on three central bank meets, including the Bank of Japan, the Bank of England and the European Central Bank. The greenback fell broadly and stocks weakened in the US after ADP Research Institute data showed companies added 158,000 workers in March, missing estimates and raising concern the key non-farm payrolls data due on Friday in the US will also be weaker than expected.

Dun & Bradstreet’s latest Consumer Credit Expectations report showed the number of people planning to enlarge their credit appetite has jumped from 9 per cent to 33 per cent in the past year. The survey, which asks consumers about their expectations for savings, credit usage, spending and debt performance in the next three months, also found fewer people were opposed to the idea of using their credit card for expensive items. The number of people not planning to use their credit cards for otherwise unaffordable expenses has fallen from 66 per cent to 49 per cent.

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 4, 2013 actual v. forecast

 

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

Government Bond Auction

Date Time Country 

Apr 05 15:30 Italy

Apr 08 09:10 Norway

Apr 08 09:30 Germany

Apr 08 15:30 Italy

Apr 09 08:10 Holland

Apr 09 09:15 Austria

Apr 09 17:00 US