NZD/USD Fundamental Analysis March 26, 2012, Forecast

Analysis and Recommendation: (close of the Asian session)

 The NZD/USD  have bounced back a bit in today’s session trading at 0.8106 up from the open of 0.8093, after falling on disappointing GDP numbers.

Over the weekend, the trade balance for New Zealand will be released.

The New Zealand economy grew 0.3% in the fourth quarter, compared to consensus forecasts from economists and the central bank of a 0.6% pace.

The kiwi dollar fell after the figures were released amid speculation the central bank will be less inclined to raise interest rates any time soon.

 

Economic Data March 21 and 22, 2012 actual v. forecast

 

Economic Events for March 26, 2012 that affect NZD, AUD and JPY

Mar. 25                 22:45     NZD                      Trade Balance

The Trade Balance measures the difference in value between imported and exported goods and services over the reported period. A positive number indicates that more goods and services were exported than imported.

Mar. 26                 00:50     JPY                        Retail Sales (YoY)           

Retail Sales measure the change in the total value of inflation-adjusted sales at the retail level. It is the foremost indicator of consumer spending, which accounts for the majority of overall economic activity.                                                                     

                                15:00     USD                      Pending Home Sales (MoM)     

The National Association of Realtors (NAR) Pending Home Sales Report measures the change in the number of homes under contract to be sold but still awaiting the closing transaction, excluding new construction.

 

Government Bond Auctions (this week)

Mar 26  09:10  Norway  Nok 3.0bn NST 474 3.75% May 2021 Bond

Mar 26  10:30  Germany  Eur 3.0bn new Mar 2013 Bubill

Mar 26  15:30  Italy   Details BTP/CCTeu auction on Mar 29

Mar 27  09:10  Italy   CTZ/BTPei auction

Mar 27  08:30  Spain  3 & 6M T-bill auction

Mar 27  17:00  US  Auctions 2Y Notes

Mar 28   09:10  Italy   BOT auction

Mar 28   17:00  US  Auctions 3Y Notes

Mar 29  09:10  Italy   BTP/CCTeu auction

Mar 29  17:00  US  Auctions 7Y Notes