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NZD/USD Fundamental Analysis October 9, 2014 Forecast

By:
Barry Norman
Updated: Aug 24, 2015, 23:00 UTC

Analysis and Recommendation: The NZD/USD gave up 29 points to trade at 0.7801 as the US dollar gained momentum this morning recovering from Monday’s harsh

NZD/USD Fundamental Analysis October 9, 2014 Forecast
NZD/USD Fundamental Analysis October 9, 2014 Forecast
NZD/USD Fundamental Analysis October 9, 2014 Forecast

Analysis and Recommendation:

The NZD/USD gave up 29 points to trade at 0.7801 as the US dollar gained momentum this morning recovering from Monday’s harsh decline. Traders are beginning to focus on the FOMC minutes due to be released late in the day. A lackluster Chinese Services PMI release this morning is weighing on the currency. The kiwi depends on its exports to China. The kiwi gained yesterday, as the US dollar plunged but then recovered and began climbing. 

The US dollar gained 21 points to trade at 85.98. Traders pared back their support for the greenback after its steady gain since the end of June, with the US dollar index, a measure against a basket of currencies, up as much as 8.7 percent. The Fed is scheduled to release minutes to the Federal Open Market Committee’s September policy meeting on Wednesday in Washington, and the central bank completes its bond purchase programme tomorrow. The prospect of higher US interest rates has been a key driver for increased appetite for the greenback.

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

 

Adj. Current Account

0.13T

0.19T

0.10T

 

 

  JPY

 

Current Account n.s.a.

0.287T

0.198T

0.417T

 

 

  CNY

 

HSBC Services PMI

53.5

53.8

54.1

 

 

  JPY

 

BoJ Monthly Report

 

 

 

 

 

NZDUSD(15 minutes)20141008054458

Upcoming Economic Events that you should be monitoring:

 

Cur.

 

Event

Actual

Forecast

Previous

 

  GBP

 

RICS House Price Bal.

 

38%

40%

 

 

  AUD

 

Employment Change

 

-30.0K

121.0K

 

 

  AUD

 

Full Employment

 

 

14.3K

 

 

  AUD

 

Unemployment Rate

 

6.2%

6.1%

 

 

  EUR

 

German Trade Balance

 

18.5B

22.2B

 

 

  EUR

 

ECB Monthly Report  

 

 

 

 

 

  GBP

 

Interest Rate Decision

 

0.50%

0.50%

 

 

  USD

 

Initial Jobless Claims

 

294K

287K

 

 

  CAD

 

New Housing Price

 

0.2%

0.0%

 

 

  EUR

 

ECB President Draghi  

 

 

 

 

Government Bond Auction

Date Time Country Auction

Oct 08 09:30 Germany Eur 4.0bn Oct 2019 Bobl auction

Oct 08 09:30 Swiss Bond auction (for decision)

Oct 08 15:30 Italy Announces details of BTP

Oct 08 17:00 US 10Y Note auction

Oct 09 09:03 Sweden I/L bond auction

Oct 09 17:00 US 30Y bond auction

Oct 10 09:10 Italy BOT auction

 

 

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