Weekly Analysis and Recommendation: The NZD/USD eased by 50 points on Friday but trading in the negative most of the week to close at 0.7814. The US
Weekly Analysis and Recommendation:
The NZD/USD eased by 50 points on Friday but trading in the negative most of the week to close at 0.7814. The US currency gained the past two days as trader’s reassessed minutes from the latest Fed meeting. A number of Federal Open Market Committee participants said the U.S. expansion “might be slower than they expected if foreign economic growth came in weaker than anticipated,” according to minutes of the Sept. 16-17 meeting on Oct. 8. The New Zealand dollar declined as investors regained confidence in the outlook for the US economy amid uncertainty about growth in other regions.
“The dollar strengthening trend is to continue,” said Michael Woolfolk, a global-markets strategist at Bank of New York Mellon in New York. “The reason why the market may have gotten a little bit of market indigestion over the minutes was that there really wasn’t much to focus on this week.”
The New Zealand dollar is heading for a 1.3 percent weekly gain against the greenback after the Federal Reserve warned a stronger US currency poses a risk to its economic recovery.
Traders will be keeping an eye out for news from the Group of 20 nations’ meeting of finance ministers in Australia, the escalating Ebola situation and the annual meetings of the International Monetary Fund and World Bank.
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.
Historical: From 2011 to Present
Highest: 0.8842 USD on Aug 01, 2011
Average: 0.8131 USD over this period
Lowest: 0.7371 USD on Nov 25, 2011
Upcoming Major Economic Events for the week of Oct 13-17, 2014
Time |
Cur. |
Imp. |
Event |
Actual |
Forecast |
Previous |
|
Monday, October 13 |
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|
|
Holiday |
Japan – Health-Sports Day |
||||
|
|
Holiday |
Canada – Thanksgiving Day |
||||
CNY |
Trade Balance (Sep) |
|
41.00B |
49.83B |
|
||
Tuesday, October 14 |
|||||||
GBP |
CPI (YoY) (Sep) |
|
1.4% |
1.5% |
|
||
Wednesday, October 15 |
|||||||
|
CNY |
CPI (YoY) (Sep) |
|
1.7% |
2.0% |
|
|
|
GBP |
Average Earnings Index +Bonus (Aug) |
|
0.7% |
0.6% |
|
|
|
GBP |
Claimant Count Change (Sep) |
|
-35.0K |
-37.2K |
|
|
|
USD |
Core Retail Sales (MoM) (Sep) |
|
0.3% |
0.3% |
|
|
|
USD |
PPI (MoM) (Sep) |
|
0.1% |
|
|
|
|
USD |
Retail Sales (MoM) (Sep) |
|
-0.1% |
0.6% |
|
|
Thursday, October 16 |
|||||||
|
EUR |
CPI (YoY) (Sep) |
|
0.3% |
0.3% |
|
|
|
USD |
Philadelphia Fed Manufacturing Index (Oct) |
|
19.9 |
22.5 |
|
|
Friday, October 17 |
|||||||
|
USD |
Building Permits (Sep) |
|
1.030M |
1.003M |
|
|
|
CAD |
Core CPI (MoM) (Sep) |
|
|
0.5% |