NZD/USD Fundamental Analysis December 20, 2012, Forecast

Analysis and Recommendation:

The NZD/USD is trading this morning at 0.8392 falling 31pts after a disappointing current account release. The kiwi fell below 84 US cents as investors flocked the euro and Swiss franc after Standard & Poor’s upgraded its Greek credit rating and as optimism was stoked on the prospect US legislators will cut a deal on the fiscal cliff.

Third-quarter current account gap was $9.89 billion in the year ended Sept. 30, from a deficit of $10.09 billion three months earlier, according to Statistics New Zealand. An annual gap of $9.83 billion was expected, according to a Reuter’s survey. The annual deficit narrowed to 4.7 percent of gross domestic product from 4.9 percent. That comes ahead of tomorrow’s third-quarter gross domestic product figures, which are expected to show the economy grew 0.4 percent in the period, according to a Reuters survey.

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 19, 2012 actual v. forecast

 

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

Government Bond Auction

Date Time Country 

Dec 20 10:30 UK 

Dec 20 16:30 Italy  

Dec 20 18:00 US 

Dec 21 16:30 Italy