NZD/USD Fundamental Analysis November 19, 2012, Forecast

Analysis and Recommendation:

The NZD/USD is trading at 0.8107 having weakened this week as global risk aversion evaporated and stock markets weakened, while traders are awaiting any early news on the US fiscal cliff talks.

US President Barack Obama and Republican lawmakers are due to meet this weekend to find a way to avoid the so-called fiscal cliff, a mix of tax increases and spending cuts that will kick in automatically on Jan. 1 and risk hampering the already-fragile economy. Global markets have become more risk averse this week with a run of weak global data and increased hostility in the Gaza Strip.

The general pattern seems to be a reasonable amount of risk aversion on the market that has weighed on the Australian dollar and the kiwi. The kiwi dollar is still broadly within its recent range of 81 cents to 83 cents, he said. In the near term, negotiations in the US over the fiscal cliff are likely to dominate. If agreement can’t be reached, there’s a risk the US economy falls back into recession and weighs on global growth.

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 November 15, 2012 actual v. forecast

There are no Asian-Pacific releases scheduled for November 16, 2012

 

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

Government Bond Auction

Date Time Country 

Nov 19 10:10 Norway 

Nov 20 09:30 Spain

Nov 20 10:10 Greece 

Nov 20 10:30 UK 

Nov 21 10:30 Germany 

Nov 21 15:10 Sweden 

Nov 21 16:00 US 

Nov 21 18:00 US 

Nov 22 09:30 Spain 

Nov 22 10:10 Sweden 

Nov 23 16:30 Italy