Analysis and Recommendation: The NZD/USD is trading on a positive note to end the year, adding 44pips to trade at 0.8242. News China helped support the
The NZD/USD is trading on a positive note to end the year, adding 44pips to trade at 0.8242. News China helped support the currency, with Chinese PMI reporting above forecast at 51.50 the strongest it has been in months, giving positive indications that Chinese manufacturing is past the downturn and back into expansion mode. New Zealand depends a great deal on its trade with the sleeping giant.
US markets continue to tumble as investors see no deal ahead of the midnight deadline. Senate Democrats have rejected the Republicans latest offer on averting $US600 billion ($NZ730.77b) of tax hikes and spending cuts. The US dollar continues to move erratically, reacting to press and public comments.
Markets will be closed tomorrow for the New Year’s holiday as the NZD is set to close well above market expectations.
I would like to take this time to wish my readers a happy and healthy New Year and a year full of successful trading.
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 31, 2012 actual v. forecast
Date |
|
Currency |
|
|
Event |
Actual |
|
Forecast |
|
Previous |
|
|
Dec. 31 |
|
AUD |
|
|
Private Sector Credit (MoM) |
0.0% |
|
0.3% |
|
0.1% |
|
|
|
|
CNY |
|
|
Chinese HSBC Manufacturing PMI |
51.50 |
|
50.90 |
|
50.90 |
|
|
|
|
SGD |
|
|
Singaporean Bank Landing (MoM) |
481.70B |
|
|
|
479.40B |
|
Upcoming Economic Events that affect the AUD, NZD, JPY and USD
Date |
Time |
Currency |
Event |
Forecast |
Previous |
Jan. 01 |
01:00 |
CNY |
51.00 |
50.60 |
|
Jan. 02 |
15:00 |
USD |
50.2 |
49.5 |
Upcoming Government Bond
Date Time Country
Thursday, January 5: France will auction an estimated €7-8 billion ($9.1-10.4 billion) in 10-year and other long-term bonds
Tuesday, January 10: Austria will auction €1.3 billion ($1.7 billion) in 5- and 10-year bonds
Thursday, January 12: Spanish 3- and 5-year bond auction
Friday, January 13: Italy will auction medium-long term bonds
Thursday, January 19: France will auction 5-year bonds
Thursday, January 19: Spanish 10-, 15-, and 30-year bond auction
Thursday, January 26: Italian long-term bond auction
Monday, January 30: Italian medium-long term bond auction
Monday, January 30: Belgian bond auction