Introduction: The recent strength of the kiwi, a currency sometimes overlooked by traders, made its moves much more predictable. This applies to support
Weekly Analysis and Recommendation:
The NZD/USD climbed and ended the week at 0.8325 giving a stellar performance this week against a stronger US dollar. By late in the week traders were looking for more risk and commodity currencies benefited. Also strong data out of China was a positive here.
Date |
Last |
Open |
High |
Low |
Change % |
Dec 07, 2012 |
0.8325 |
0.8316 |
0.8336 |
0.8311 |
0.12% |
Dec 06, 2012 |
0.8315 |
0.8290 |
0.8349 |
0.8284 |
0.30% |
Dec 05, 2012 |
0.8290 |
0.8246 |
0.8294 |
0.8238 |
0.53% |
Dec 04, 2012 |
0.8246 |
0.8214 |
0.8260 |
0.8202 |
0.39% |
Dec 03, 2012 |
0.8214 |
0.8192 |
0.8225 |
0.8172 |
0.27% |
The Reserve Bank of New Zealand held rates and policy and gave a fairly good assessment of the current state of affairs in New Zealand.
With positive trends in both Australia and China, the kiwi is a major beneficiary as it is dependent on its trade with its neighbors. Also as the US recovers NZ should be able to see increase in exports to the US.
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.
Major Economic Events actual v. forecast for Yen, the Aussie, the Kiwi and USD
Date |
Currency |
Event |
Actual |
Forecast |
Previous |
Dec. 03 |
AUD |
Company Gross Operating Profits (QoQ) |
-2.9% |
-2.5% |
-0.3% |
AUD |
Retail Sales (MoM) |
0.0% |
0.4% |
0.5% |
|
CNY |
Chinese HSBC Manufacturing PMI |
50.50 |
50.40 |
50.40 |
|
USD |
ISM Manufacturing Index |
49.5 |
51.3 |
51.7 |
|
Dec. 04 |
AUD |
Building Approvals (MoM) |
-7.6% |
-2.0% |
9.5% |
AUD |
Current Account |
-14.9B |
-14.8B |
-12.4B |
|
AUD |
Interest Rate Decision |
3.00% |
3.00% |
3.25% |
|
Dec. 05 |
AUD |
GDP (QoQ) |
0.5% |
0.6% |
0.6% |
USD |
ADP Nonfarm Employment Change |
118K |
125K |
157K |
|
USD |
Nonfarm Productivity (QoQ) |
2.9% |
2.7% |
1.9% |
|
USD |
Unit Labor Costs (QoQ) |
-1.9% |
-0.9% |
-0.1% |
|
USD |
ISM Non-Manufacturing Index |
54.7 |
53.5 |
54.2 |
|
NZD |
Interest Rate Decision |
2.50% |
2.50% |
2.50% |
|
Dec. 06 |
AUD |
Employment Change |
13.9K |
0.2K |
10.1K |
USD |
Initial Jobless Claims |
370K |
380K |
395K |
|
USD |
Continuing Jobless Claims |
3205K |
3275K |
3305K |
|
Dec. 07 |
AUD |
Trade Balance |
-2.09B |
-2.05B |
-1.42B |
USD |
Average Hourly Earnings (MoM) |
0.2% |
0.2% |
0.0% |
|
USD |
Nonfarm Payrolls |
146K |
93K |
138K |
|
USD |
Average Weekly Hours |
34.4 |
34.4 |
34.4 |
|
USD |
Private Nonfarm Payrolls |
147K |
95K |
189K |
|
USD |
Michigan Consumer Sentiment |
74.5 |
82.4 |
82.7 |
Historical: From 2010 to Present
Highest: 0.8842 USD on Aug 01, 2011.
Average: 0.7543 USD over this period.
Lowest: 0.6562 USD on May 25, 2010.
Economic Highlights of the coming week that affect the AUD, JPY, NZD and USD
Date |
Time |
Currency |
Event |
Forecast |
Previous |
Dec. 10 |
00:30 |
AUD |
3.0% |
0.9% |
|
Dec. 11 |
00:30 |
AUD |
-1 |
||
|
13:30 |
USD |
-42.5B |
-41.6B |
|
Dec. 12 |
13:30 |
USD |
-0.5% |
0.5% |
|
|
19:00 |
USD |
-147.5B |
-120.0B |
|
Dec. 13 |
23:50 |
JPY |
-10 |
-3 |
|
Dec. 14 |
04:30 |
JPY |
1.8% |
Government Bond Auction
Date Time Country
Dec 10 10:10 Norway
Dec 10 10:10 Slovakia
Dec 10 15:30 UK
Dec 10 16:30 Italy
Dec 11 09:30 Spain
Dec 11 10:10 Greece
Dec 11 10:15 Austria
Dec 11 10:30 Belgium
Dec 11 10:30 UK
Dec 11 18:00 US
Dec 12 10:10 Italy
Dec 12 10:10 Sweden
Dec 12 10:30 Swiss
Dec 12 16:30 US
Dec 13 01:30 Japan
Dec 13 09:30 Spain
Dec 13 10:10 Italy
Dec 13 10:30 UK
Dec 13 16:00 US
Dec 13 18:00 US
Dec 14 11:00 Belgium
Dec 14 15:30 UK