Analysis and Recommendation: The NZD/USD declined today as markets prepare for the holiday. The US dollar continued to gain against the crosses as worries
The NZD/USD declined today as markets prepare for the holiday. The US dollar continued to gain against the crosses as worries about the US tax and budget deadline quickly approaches with congress dismissed for the holiday week, negotiations have entirely broken down. The pair is trading at 0.8218 down by 14pts. Data showed that holiday shopping has climbed helping to bump up the NZD economy.
Trading was light as kiwi markets were open for a shortened session on Christmas Eve. Investors have pared back their hopes US legislators will set aside partisan differences and reach a deal to avert the fiscal cliff, which will likely plunge the world’s biggest economy back into recession. The stalemate is nearing crisis point with politicians set to come back after Christmas to find a solution before the changes are enacted on Jan. 1.
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 24, 2012 actual v. forecast
Date |
Time |
|
Currency |
|
Importance |
|
Event |
Actual |
|
Forecast |
|
Previous |
|
|
Dec. 24 |
08:00 |
|
TWD |
|
|
Taiwanese Industrial Production (YoY) |
|
|
5.40% |
|
4.56% |
|
||
|
23:50 |
|
JPY |
|
|
CSPI (YoY) |
|
|
-0.6% |
|
-0.7% |
|
Upcoming Economic Events that affect the AUD, NZD, JPY and USD
Global markets are closed for the Christmas Holiday; many will reopen on Wednesday while some countries are out for additional days. There is no eco data on the calendar for December 25th. We will not print any fundamental analysis on Christmas day and will return on December 26th. I would like to wish all of my readers an enjoyable holiday season.
Government Bond Auction
Date Time Country
Dec 26 01:30 Japan
Dec 27 10:10 Italy
Dec 28 10:10 Italy