NZD/USD Fundamental Analysis September 11, 2013 Forecast

Analysis and Recommendation:

The NZD/USD climbed on the back of the AUD to trade at 0.8044 adding 27 points against a slightly weaker US dollar. A Russian official showed signs of a rare agreement between the Russian and US governments, urging Syria to destroy its chemical weapons. Syria said it welcomed Russia’s proposal, without indicating whether it would comply.  On Friday, the US government’s closely watched jobs report showed fewer jobs were created in August than expected, and figures from previous months were revised sharply lower. That prompted speculation that the Fed won’t severely scale back stimulus measures this month, giving a boost to Treasury’s. The dollar index, which measures the greenback against a basket of six currencies, extended its decline from Friday jobs data fuelled uncertainty about whether the Federal Reserve will start tapering its stimulus at its meeting next week.

There has been little data or news from the small nation to support the currency, as it shifts based on global sentiment. Today though, data showed that consumers spent more on durables using their debit and credit cards in August 2013. Spending on durables boosted the value of core retail transactions, which increased 1.1 percent in August 2013, after adjusting for seasonal effects. “This month’s increase in core retail was driven by durables and was the largest since June 2011,” acting industry and labor statistics manager Tehseen Islam said.

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 September 10, 2013 2012 actual v. forecast

 

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

Government Bond Auction

Date Time Country 

Sep 11 09:30 Germany

Sep 11 09:30 Swiss

Sep 11 14:30 Sweden

Sep 11 15:30 Italy

Sep 11 17:00 US

Sep 12 09:10 Sweden

Sep 12 09:30 UK

Sep 12 15:00 US

Sep 12 15:30 Italy

Sep 12 17:00 US

Sep 13 10:00 Belgium