Outlook and Recommendation The NZD/USD closed the month at 0.8202 falling a bit this month, as markets worried about Chinese growth. The pair will wait
The NZD/USD closed the month at 0.8202 falling a bit this month, as markets worried about Chinese growth. The pair will wait eagerly for the release of Chinese data. – Initial signs are emerging that New Zealand’s economic momentum will be picking up in the near term, with recent consumer confidence and business indicators improving, the services sector recording advancements in both sales and new orders, and the housing market strengthening. Domestic demand continues to be the main economic driver, driven by earthquake-related reconstruction investment; meanwhile, subdued external conditions will continue to weigh on the overall economic outlook as the country’s exporters battle with still-weak global demand and an elevated currency
Highest: 0.8268 |
Lowest: 0.8174 |
Difference: 0.0094 |
Average: 0.8219 |
Change %: -0.27 |
Traders hold a bullish outlook on the New Zealand dollar (NZD), with CFTC reporting a net long position of US$1.5 billion as of the end of November. However, technically USDNZD has struggled to make it back to its yearto-date highs of 0.8470
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 recent analysis and information in our weekly reports and we provide daily updates and outlooks.
Central Bank – Reserve Bank of New Zealand
Date of next meeting or last meeting: December 5, 2012
Current Rate: 2.50%
Economic Highlights of the coming week that affect the AUD, JPY, NZD and USD
Date |
Time |
Currency |
Event |
Forecast |
Previous |
Dec. 03 |
00:30 |
AUD |
-2.5% |
-0.7% |
|
|
00:30 |
AUD |
0.4% |
0.5% |
|
|
15:00 |
USD |
51.3 |
51.7 |
|
Dec. 04 |
00:30 |
AUD |
-2.0% |
7.8% |
|
|
00:30 |
AUD |
-14.8B |
-11.8B |
|
|
03:30 |
AUD |
3.00% |
3.25% |
|
Dec. 05 |
00:30 |
AUD |
0.6% |
0.6% |
|
|
13:15 |
USD |
125K |
158K |
|
|
13:30 |
USD |
2.7% |
1.9% |
|
|
13:30 |
USD |
-0.9% |
-0.1% |
|
|
15:00 |
USD |
53.5 |
54.2 |
|
|
20:00 |
NZD |
2.50% |
2.50% |
|
Dec. 07 |
00:30 |
AUD |
-2.05B |
-1.46B |