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Barry Norman
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NZD/USD Fundamental Analysis December 17, 2012, Forecast
Analysis and Recommendation:

The NZD/USD is trading at 0.8443 following the Australian dollar after positive data from China shows a continued expansion which is all important for the kiwi, a major trading partner to China. The US dollar has been weak since the addition monetary stimulus earlier this week. Risk-sensitive assets were bolstered by the HSBC and Markit Economics report indicating Chinese manufacturing expanded at a faster pace this month.

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The New Zealand dollar is headed for a 3.1 per cent gain against the yen this week as Japanese voters prepare to go to the polls in an election that’s expected to install a new government that backs unlimited monetary easing.

Japan’s Liberal Democratic Party, led by former Prime Minister Shinzo Abe, is expected to topple the existing regime in this weekend’s general election. Mr. Abe is seen as an advocate for more central bank asset purchases in a bid to revive an economy that’s sharply deteriorated since last year’s earthquake and tsunami.

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 14, 2012 actual v. forecast

Date

 

Currency

 

 

Event

Actual

 

Forecast

 

Previous

 

 

Dec. 14

 

CNY

 

 

Chinese HSBC Manufacturing PMI 

50.90

 

 

 

50.50 

 

 

 

 

JPY

 

 

Industrial Production (MoM) 

1.6%

 

1.8% 

 

1.8% 

 

 

 

 

SGD

 

 

Singaporean Retail Sales (YoY) 

-1.0%

 

-1.5% 

 

2.6% 

   

 

 

INR

 

 

Indian WPI (YoY) 

7.24%

 

7.57% 

 

7.45% 

 

 

 

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

Date

Time

Currency

Event

Forecast

Previous

Dec. 17 

13:30

USD

NY Empire State Manufacturing Index 

-0.5 

-5.2 

 

14:00

USD

TIC Net Long-Term Transactions 

 

3.3B 

Government Bond Auction

Date Time Country 

Dec 17 10:10 Norway 

Dec 17 18:00 US 

Dec 18 01:30 Japan 

Dec 18 09:30 Spain 

Dec 18 10:10 Greece 

Dec 18 18:00 US 

Dec 19 18:00 US 

Dec 20 10:30 UK 

Dec 20 16:30 Italy  

Dec 20 18:00 US 

Dec 21 16:30 Italy  

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