NZD/USD Fundamental Analysis November 24, 2015 – Forecast

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Published: Nov 23, 2015, 04:51 UTC

Analysis and Recommendation: The NZD/USD took a big header in the morning session declining 50 points as the US dollar rallied. This is expected to be a

NZD/USD Fundamental Analysis November 24, 2015 – Forecast

Analysis and Recommendation:

The NZD/USD took a big header in the morning session declining 50 points as the US dollar rallied. This is expected to be a quiet week but more and more Fed comments support a December rate lift off and possibly more than a 25bps increase. The global terror alerts this week are going to weigh on commodities as the Eurozone is considering closing its borders. This has sparked a run into the US dollar for safety. The kiwi is trading at 0.6516. Currency markets may experience low volumes and poor liquidity this week as traders take an extended break around the US Thanksgiving holiday on Thursday. Traders may also be unwilling to take positions ahead of the last key US data releases next week on employment and manufacturing before the Federal Reserve makes a decision on interest rates on Dec. 17, with speculation rising that it will hike. Ahead of that, the European Central Bank is due to review its policy next week, with the Reserve Bank of New Zealand up for review the following week.

This week, the Reserve Bank releases monthly data on mortgage lending restrictions on Wednesday, and foreign exchange reserves on Friday.

In the US, data releases will be compressed into the first half of the week due to the Thanksgiving holiday. Releases are scheduled for consumer confidence, third-quarter gross domestic product, and manufacturing, housing and durable goods orders.

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.

Today’s economic releases:

	Event	Actual	Forecast	Previous
Holiday	Japan – Labour Thanksgiving Day

Upcoming Economic Events that you should be monitoring:

Tuesday, November 24, 2015

Cur.	Event	Actual	Forecast	Previous
EUR	German GDP (QoQ) (Q3)		0.3%	0.3%
EUR	German GDP (YoY) (Q3)		1.8%	1.8%
EUR	German Business Expectations (Nov)		104.0	103.8
EUR	German Current Assessment (Nov)		112.4	112.6
EUR	German Ifo Business Climate Index (		108.2	108.2
USD	GDP (QoQ) (Q3)		2.0%	1.5%
USD	GDP Price Index (QoQ) (Q3)		1.2%	1.2%
USD	Goods Trade Balance (Oct)			-58.63B
USD	S&P/CS HPI Composite – 20 n.s.a.		5.2%	5.1%
USD	CB Consumer Confidence (Nov)		99.5	97.6