NZD/USD Fundamental Analysis July 18, 2013 Forecast

Analysis and Recommendation:

The NZD/USD is trading at 0.7881 down by 13 points as the US dollar continues its climb ahead of Mr. Bernanke’s testimony. The global focus over the next two days will be the central banker with currencies paying little attention to economic or fundamental data. The New Zealand dollar gave up earlier gains ahead of US Federal Reserve chairman Ben Bernanke’s congressional testimony as speculative investors increased their bets on the greenback, and was bolstered by Reserve Bank of Australia minutes talking down that nation’s inflation outlook. A strong gain in local dairy prices rounded out a bullish start for the currency.

Traders are waiting to see whether he will give any more direction on winding down the Fed’s asset purchase programme later this year. The kiwi and Australian dollars got a boost from yesterday’s release of the minutes to the RBA’s July meeting, which showed a lower inflation outlook due to the recent depreciation in the currency. That prompted some investors to cut back their bets on a rate cut.

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 July 17, 2013 actual v. forecast

 

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

Government Bond Auction

Date Time Country 

Jul 18 08:30 Spain

Jul 18 08:50 France

Jul 18 09:50 France

Jul 18 15:00 US

Jul 18 17:00 US