NZD/USD Fundamental Analysis October 8, 2014 Forecast

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Updated: Aug 24, 2015, 23:00 UTC

Analysis and Recommendation: The NZD/USD tumbled 44 points to trade at 0.7798 as the US dollar recovered in the early session. The NZIER business

NZD/USD Fundamental Analysis October 8, 2014 Forecast

Analysis and Recommendation:

The NZD/USD tumbled 44 points to trade at 0.7798 as the US dollar recovered in the early session. The NZIER business confidence report printed much lower than last month. NZ business confidence continued to slide in the September quarter, as the positive outlook seen earlier in the year wasn’t backed up by similarly strong actual economic activity, according to the latest Quarterly Survey of Business Opinion from the New Zealand Institute of Economic Research.

Twenty percent of businesses remained optimistic in the September quarter, down from 32 percent in the June quarter. The measure has fallen some 50 percent from its peak in late 2013, excluding seasonal variations, and has moderated across all sectors and regions. The most recent quarter remains well above the historical average of net minus 5 percent.

On Monday investors eased back their support for the greenback after its steady gain since the end of June, with the US dollar index, a measure of the greenback against a basket of currencies, up as much as 8.7 percent. The US currency has been a favorite in recent months as an improving US economy has stoked the prospect of higher US interest rates, increasing the attraction of the US currency.

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
NZD		NZIER Confidence	19		32
AUD		Interest Rate Decision		2.50%	2.50%
AUD		RBA Rate Statement
EUR		German Production		-1.5%	1.9%
JPY		BoJ Press Conference

Upcoming Economic Events that you should be monitoring:

Cur.	Event	Actual	Forecast	Previous
JPY	Adjusted Current Acct.		0.19T	0.10T
JPY	Current Account n.s.a.		0.198T	0.417T
CNY	HSBC Services PMI (Sep)		53.8	54.1
JPY	BoJ Monthly Report
CAD	Housing Starts (Sep)		196.0K	192.4K
USD	FOMC Meeting Minutes