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
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 |
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JPY |
Adj. Current Account |
0.13T |
0.19T |
0.10T |
|
|
|
JPY |
Current Account n.s.a. |
0.287T |
0.198T |
0.417T |
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|
|
CNY |
HSBC Services PMI |
53.5 |
53.8 |
54.1 |
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|
JPY |
BoJ Monthly Report |
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Upcoming Economic Events that you should be monitoring:
Cur. |
Event |
Actual |
Forecast |
Previous |
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|
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 |
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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