NZD/USD Fundamental Analysis – November 30, 2015 – Forecast

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Published: Nov 27, 2015, 03:44 UTC

Analysis and Recommendation: The NZD/USD dipped 2 points but held close to flat at 0.6570 with no data on the calendar in the Asian session and no data

NZD/USD Fundamental Analysis – November 30, 2015 – Forecast

Analysis and Recommendation:

The NZD/USD dipped 2 points but held close to flat at 0.6570 with no data on the calendar in the Asian session and no data from the US overnight with the US Thanksgiving holiday closing the markets. Forex traders are experiencing low volumes and poor liquidity in the second half of this week as traders take an extended break around Thursday’s US Thanksgiving holiday. 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 following its December 15-16 meeting, with speculation rising that it will hike.

Commodity currencies were resilient this week, thanks in part to higher oil prices and as investors turned less bearish on some base metals.

Traders are holding positions ahead of a series of domestic and offshore data next week will undoubtedly change the investment landscape, largely driven by the looming U.S. Federal Reserve rate hike, impacting U.S. dollar risk assets. The market is currently pricing a 78 percent chance of a hike and it has to be seen as a positive that finally after so much deliberation we will finally see the Fed guide the funds rate higher.

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	United States – Day following Thanksgiving – Early close at 13:30

Upcoming Economic Events that you should be monitoring:

Monday, November 30, 2015

Cur.	Event	Actual	Forecast	Previous
NZD	Building Consents (MoM) (Oct)			-5.7%
JPY	Industrial Production (MoM) (Oct)			1.1%
JPY	Retail Sales (YoY) (Oct)			-0.2%
AUD	HIA New Home Sales (MoM) (Oct)			-4.0%
NZD	ANZ Business Confidence (Nov)			10.5%
AUD	Company Gross Operating Profits			-1.9%
AUD	Private Sector Credit (MoM) (Oct)			0.8%
EUR	German CPI (MoM) (Nov)
USD	Chicago PMI (Nov)		55.0	56.2
USD	Pending Home Sales (MoM) (Oct)		1.0%	-2.3%