NZD/USD Fundamental Analysis July 23, 2013 Forecast

Analysis and Recommendation:

The NZD/USD is trading at 0.7936 up just 5 pips in a quiet morning session. As markets enter the 3^rd week of the month, there is little data and light news flow. Traders are evaluating the Japanese elections this morning, but otherwise it was a very light weekend after an exhausting week in the financial markets centered on Mr. Bernanke’s testimony. The US dollar continued to ease this to trade at 82.56 down off its highs last week close to the 85 price level. The kiwi should have recovered to a higher value with the greenback returning to its normal trade and we may expect to see it trading above the 80 level later this week. Tomorrow’s trade balance data could tell an interesting story, with Chinese data printing on the negative side over the past weeks.

This morning a 6.5 magnitude earthquake shook New Zealand closing down trading rooms while damaged was assessed. The New Zealand dollar opened weaker as authorities warned workers in Wellington’s CBD to stay home pending an assessment of earthquake damage, which closed bank trading rooms and sent glass and rubble falling from buildings.

A swarm of quakes off the coast near Seddon in the upper South Island topped out with a magnitude 6.5 shake at 5.09 pm on Sunday, bigger than the devastating magnitude 6.3 quake that damaged Christchurch in February 2011.

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 22, 2013 actual v. forecast

 

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

Government Bond Auction

Date Time Country 

Jul 23 10:00 Holland

Jul 23 10:30 Spain

Jul 23 11:30 Switzerland

Jul 23 19:00 US

Jul 24 11:30 Switzerland

Jul 24 19:00 US

Jul 25 19:00 US

Jul 26 11:00 Italy

Jul 26 12:10