Analysis and Recommendation: The NZD/USD is trading at 0.8443 following the Australian dollar after positive data from China shows a continued expansion
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.
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 |
-0.5 |
-5.2 |
|
|
14:00 |
USD |
|
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