NZD/USD Fundamental Analysis October 15, 2013 Forecast

Analysis and Recommendation:

The NZD/USD gained 10 pips against the greenback as lawmakers seem unable to reach agreements to reopen the government or increase the debt ceiling as the deadline moves closer. The currency is under pressure due to a very weak trade balance report from China showing a huge drop in exports, but the surge in imports helps the kiwi, as New Zealand exports dairy products and consumables to China. This morning’s release of CPI data printed better than expected opening the door for the PBOC to offer stimulus packages to help increase production and exports.

China got some reasonably good news on the strength of its domestic economy. According to official data out on Saturday, imports rose by a stronger than expected 7.4 per cent in September, including imports of crude oil, suggesting Chinese economic growth is now stabilizing, even though exports were weaker than expected. On Friday, China also reports its third quarter GDP numbers and economists are expecting a pickup in growth to 7.8 per cent, from 7.5 per cent in the June quarter.

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 October 14, 2013 actual v. forecast

 

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

Government Bond Auction

Date Time Country 

Oct 15 08:30 Spain

Oct 15 09:30 Belgium

Oct 16 00:30 Japan

Oct 16 09:10 Sweden

Oct 16 09:30 Germany

Oct 16 09:30 Portugal

Oct 17 08:30 Spain

Oct 17 08:50 France

Oct 17 09:30 UK

Oct 17 09:50 France

Oct 17 15:00 US