NZD/USD Fundamental Analysis – August 12, 2015 – Forecast

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Published: Aug 11, 2015, 05:04 UTC

Analysis and Recommendation: The NZD/USD tumbled 66 points to 0.6554 as worries over China continues to fester. There was no news or data in the tiny

NZD/USD Fundamental Analysis – August 12, 2015 – Forecast

Analysis and Recommendation:

The NZD/USD tumbled 66 points to 0.6554 as worries over China continues to fester. There was no news or data in the tiny country this morning. A weaker yuan may be the stimulus China’s economy needs but will make iron ore and coal imports more expensive, which will weigh on Australia’s already hurting trade balance, as well as struggling resources companies.

China’s trade figures shrank by unexpectedly wide margins in July, showing the world’s second-largest economy faces weak demand both at home and abroad. Exports contracted by 8.3 percent over a year earlier and imports were off by 8.1 percent. For the year to date, exports are off 14.6 percent and imports down by 0.8 percent. That increases pressure on Beijing to stimulate domestic growth and to avert politically sensitive job losses in export industries.

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.

Today’s economic releases:

Cur.	Event	Actual	Forecast	Previous
GBP	BRC Retail Sales Monitor (YoY) (Jul)	1.2%	1.0%	1.8%
AUD	NAB Business Confidence (Jul)	4	11	8

Upcoming Economic Events that you should be monitoring:

Wednesday, August 12, 2015

Cur.	Event	Actual	Forecast	Previous
USD	API Weekly Crude Oil Stock			-2.400M
JPY	Monetary Policy Meeting Minutes
AUD	Wage Price Index (QoQ) (Q2)		0.6%	0.5%
JPY	Industrial Production (MoM) (Jun)		0.8%	0.8%
JPY	Tertiary Industry Activity Index		0.1%	-0.7%
CNY	Fixed Asset Investment (YoY) (Jul)		11.5%	11.4%
CNY	Industrial Production (YoY) (Jul)		6.6%	6.8%
GBP	Claimant Count Change (Jul)		1.5K	7.0K
GBP	Unemployment Rate (Jun)		5.6%	5.6%
EUR	Industrial Production (MoM) (Jun)		-0.2%	-0.4%
USD	JOLTs Job Openings (Jun)		5.300M	5.363M
USD	Crude Oil Inventories			-4.407M
USD	Federal Budget Balance (Jul)		-132.0B	51.8B