NZD/USD Fundamental Analysis February 28, 2013 Forecast

Analysis and Recommendation:

The NZD/USD gained a few pips to trade at 0.8251 this morning. The kiwi held below 83 US cents in trading as the uncertain election outcome in Italy dented investors’ appetite for riskier, or higher-yielding, assets, and trumped an unchanged outlook for this season’s payout to dairy farmers.

The prospect of a stalemate after Italy’s first general election since the global financial crisis has spooked investors, reigniting fears Europe’s fourth biggest economy won’t continue a drive for austerity, and that will seep into rest of the region.

Election results in Italy showed Pier Luigi Bersani, who supports the cost cutting programme, won the lower house by less than half a percentage point, while former Prime Minister Silvio Berlusconi secured a blocking vote in the Senate.

The US dollar remains strong, after weakening after testimony from Fed Director Ben Bernanke seemed to endorse on going stimlus, but the drop in the dollar was limited by strong housing and consumer confidence data.

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 February 27, 2013 actual v. forecast

 

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

Government Bond Auction

Date Time Country 

Feb 28 01:30 Japan

Feb 28 12:00 Norway

Mar 05 10:10 Norway

Mar 05 10:15 Austria

Mar 05 10:30 Belgium

Mar 05 10:30 UK

Mar 05 15:30 UK

Mar 06 10:10 Sweden

Mar 06 10:30 Germany

Mar 07 09:30 Spain

Mar 07 09:50 France

Mar 07 15:30 Sweden

Mar 07 16:30 Italy

Mar 07 16:00 US

Mar 08 11:30 Belgium

Mar 08 16:30 Italy