NZD/USD Fundamental Analysis – August 28, 2015 – Forecast

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Published: Aug 27, 2015, 04:51 UTC

Analysis and Recommendation: The NZD/USD added 16 points to 0.6454 remaining below its trading range but improving as China continues to pump money into

Analysis and Recommendation:

The NZD/USD added 16 points to 0.6454 remaining below its trading range but improving as China continues to pump money into its banking system easing global fears. The US dollar index, which measures the greenback against a basket of currencies, climbed after US durable goods orders printed stronger than expected in July, up 2 percent from the previous month compared with expectations for a 0.4 percent decline, suggesting US business investment is continuing to improve in the third quarter. The Bloomberg Commodity Index of 22 raw materials slid to a fresh multi-year low, weighing on commodity-linked currencies such as the Norwegian krone, and the Canadian, Aussie and kiwi dollars.

Dovish comments by a top US Federal Reserve official overnight, who said China’s slowdown has weakened the case for raising interest rates in September, had no lasting impact on markets, Mr Speizer said.

Mr Speizer tipped downward momentum for the currency to persist ahead of Australia’s second quarter capital expenditure report due out Thursday.

US second-quarter GDP data due out tonight is expected to be revised higher, to an annual 3.2 percent rate from a previous estimate of 2.3 percent.

ANZ expects the kiwi to trade between 63.30 US cents and 65 cents today.

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
AUD		Private New Capital Expenditure	-4.0%	-2.5%	-4.7%

Upcoming Economic Events that you should be monitoring:

Friday, August 28 2015

Cur.	Event	Actual	Forecast	Previous
JPY	Household Spending (YoY) (Jul)		1.3%	-2.0%
JPY	Household Spending (MoM) (Jul)		2.2%	-3.0%
JPY	National Core CPI (YoY) (Jul)		-0.2%	0.1%
JPY	Tokyo Core CPI (YoY) (Aug)		-0.2%	-0.1%
JPY	Retail Sales (YoY) (Jul)		1.1%	0.9%
CHF	GDP (YoY) (Q2)		0.9%	1.1%
CHF	GDP (QoQ) (Q2)		-0.1%	-0.2%
EUR	Spanish CPI (YoY) (Aug)		-0.1%	0.1%
EUR	Spanish HICP (YoY) (Aug)		-0.2%	0.0%
GBP	Business Investment (QoQ)		1.7%	2.0%
GBP	GDP (QoQ) (Q2)		0.7%	0.7%
EUR	German CPI (MoM) (Aug)		-0.1%	0.2%
USD	Core PCE Price Index (MoM) (Jul)		0.1%	0.1%
USD	Goods Trade Balance (Jul)			-62.26B
USD	Personal Spending (MoM) (Jul)		0.4%	0.2%
CAD	RMPI (MoM) (Jul)		-4.0%	0.0%
USD	Michigan Consumer Expectations			83.8