NZD/USD Fundamental Analysis June 20, 2012, Forecast

Analysis and Recommendation:

The NZD/USD  traded above 79 US cents as leaders from the G20 nations increased pressure on European Union policymakers to tackle the region’s debt crisis threatening global growth.

G20 leaders meeting in a summit in Mexico are leaning on German Chancellor Angela Merkel to give Greece’s incoming government more leeway under the regional bailout.

Greek elections reduced the immediate risk of a eurozone break-up, with pro-austerity parties New Democracy and Pasok securing 162 seats in the 300-seat parliament.

The G20’s European concerns intensified as the yield on Spain’s 10-year bond surged to a 13-year high 7.29 per cent.

Yesterday, there was virtually no eco data, affecting global markets, but the heat turns up today with US housing starts and will continue to be busy the rest of the week.

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.

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