NZD/USD Fundamental Analysis December 10, 2012, Forecast

Analysis and Recommendation:

The NZD/USD dipped this morning to trade at 0.8320 as the US dollar musters strength ahead of today’s release of the nonfarm payroll data and on strong unemployment numbers yesterday. The euro tumbled pulling down the commodity currencies after ECB Draghi revised EU growth downward through 2014.

The kiwi climbed to a 16-month high on a trade-weighted basis after investors piled into the currency after Reserve Bank of New Zealand governor Graeme Wheeler all-but ruled out a rate cut as he focuses on potential inflation in the housing market. The trade-weighted index (TWI) rose as high as 74.45, the highest level since August last year, and was trading at 74.36 in early trade, from 74.03 at the end of the previous session.

US non-farm payrolls aren’t expected to grab too much attention when they’re released today in Washington DC, due to the impact of Hurricane Sandy, though investors will continue to keep tabs on the ability of US legislators to make any progress on stalled talks to prevent US$607 billion of automatic tax hikes and spending cuts from kicking in next month.

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 December 7, 2012 actual v. forecast

 

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

Government Bond Auction

Date Time Country 

Dec 10 10:10 Norway 

Dec 10 10:10 Slovakia 

Dec 10 15:30 UK 

Dec 10 16:30 Italy  

Dec 11 09:30 Spain 

Dec 11 10:10 Greece 

Dec 11 10:15 Austria 

Dec 11 10:30 Belgium 

Dec 11 10:30 UK 

Dec 11 18:00 US 

Dec 12 10:10 Italy  

Dec 12 10:10 Sweden 

Dec 12 10:30 Swiss 

Dec 12 16:30 US 

Dec 13 01:30 Japan 

Dec 13 09:30 Spain 

Dec 13 10:10 Italy  

Dec 13 10:30 UK 

Dec 13 16:00 US 

Dec 13 18:00 US 

Dec 14 11:00 Belgium 

Dec 14 15:30 UK