NZD/USD Fundamental Analysis October 23, 2014 Forecast

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Updated: Aug 25, 2015, 02:00 UTC

Analysis and Recommendation: The NZD/USD climbed to trade at 0.7960 gaining 19 points as the US dollar continued to ease after climbing yesterday on

NZD/USD Fundamental Analysis October 23, 2014 Forecast

Analysis and Recommendation:

The NZD/USD climbed to trade at 0.7960 gaining 19 points as the US dollar continued to ease after climbing yesterday on stronger than expected US housing data. Jobs growth in New Zealand’s construction industry is gathering pace as several large infrastructure developments have commenced or are about to get underway, says recruiting experts Hays Construction. The kiwk fell after reports that the European Central Bank may consider taking more steps to stimulate the euro-zone economy, stoking demand for the greenback the kiwi recovered this morning with as no comment to the global rumor eased a bit.

The greenback rallied after the ECB bought Italian covered bonds for a second day as part of a plan to boost lending in the region, and after Reuters cited unnamed sources saying the European monetary authority was considering corporate debt purchases to support the regional economy. The ECB said no such decision had been taken. The US dollar was also supported by better-than-expected US housing data.

Inflation data from Australia helped give the kiwi a boost as the Tasmanian economies seem to be right on course.

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 actual vs. forecast:

Cur.	Event	Actual	Forecast	Previous
JPY	Adjusted Trade Balance	-1.07T	-0.91T	-0.91T
JPY	Exports (YoY) (Aug)	6.9%	6.8%	-1.3%
JPY	Trade Balance (Sep)	-958B	-777B	-949B
AUD	CPI (QoQ) (Q3)	0.5%	0.4%	0.5%
AUD	CPI (YoY) (Q3)	2.3%	2.3%	3.0%
AUD	Trimmed Mean CPI	0.4%	0.5%	0.8%

Upcoming Economic Events that you should be monitoring:

Cur.	Event	Actual	Forecast	Previous
AUD	RBA Governor Stevens
NZD	CPI (QoQ) (Q2)		0.5%	0.3%
CNY	HSBC Mfg. PMI		50.2	50.2
EUR	German Mfg PMI		49.5	49.9
EUR	German Services PMI		55.0	55.7
EUR	Manufacturing PMI		49.9	50.3
EUR	Services PMI (Sep)		52.0	52.4
GBP	BBA Mortgage		41.5K	41.6K
GBP	Core Retail Sales (MoM)		-0.2%	0.2%
GBP	Retail Sales (MoM)		-0.1%	0.4%
GBP	CBI Industrial Trends		-4	-4
USD	Initial Jobless Claims		282K	264K