Analysis and Recommendation: The NZD/USD climbed a bit this morning on positive global sentiment. The pair is trading at 0.8291 adding 3pips. The kiwi
Analysis and Recommendation:
The NZD/USD climbed a bit this morning on positive global sentiment. The pair is trading at 0.8291 adding 3pips. The kiwi rose to a nine-month high on a trade-weighted basis after Reserve Bank governor Graeme Wheeler kept the benchmark interest rate unchanged and warned about the threat of inflation in the housing market.
Wheeler kept the official cash rate at 2.5 percent as expected, and said on the current projections it isn’t going to move until the end of 2013. The bank warned on Auckland’s property market which is heating up, and sharpened the new governor’s focus on inflation. The Reserve Bank is forecasting annual inflation to stay near the bottom of the band in the next year, rising to 2 percent in the March 2015 quarter as building activity ramps up and as the currency starts running out of steam.
The central bank has been under increasing pressure to cut the benchmark rate in a bid to stoke economic growth and bring down the kiwi dollar, and has had to weigh that up against an Auckland property market that’s heating up.
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 6, 2012 actual v. forecast
Date |
|
Currency |
|
|
Event |
Actual |
|
Forecast |
|
Previous |
Dec. 06 |
|
AUD |
|
|
Employment Change |
13.9K |
|
0.2K |
|
10.1K |
|
|
AUD |
|
|
Unemployment Rate |
5.2% |
|
5.5% |
|
5.4% |
Upcoming Economic Events that affect the AUD, NZD, JPY and USD
Date |
Time |
|
Currency |
Event |
Forecast |
Previous |
Dec. 07 |
00:30 |
|
AUD |
-2.05B |
-1.46B |
|
|
13:30 |
|
USD |
0.2% |
0.0% |
|
|
13:30 |
|
USD |
90K |
171K |
|
|
13:30 |
|
USD |
34.4 |
34.4 |
|
|
13:30 |
|
USD |
90K |
184K |
|
|
14:55 |
|
USD |
82.1 |
82.7 |
Government Bond Auction
Date Time Country
Dec 07 16:30 Italy
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