NZD/USD Weekly Fundamental Analysis December 17-21, 2012, Forecast

By:

Updated: Aug 21, 2015, 01:00 UTC

Introduction: The recent strength of the kiwi, a currency sometimes overlooked by traders, made its moves much more predictable. This applies to support

NZD/USD Weekly Fundamental Analysis December 17-21, 2012, Forecast

Weekly Analysis and Recommendation:
The NZD/USD is trading at 0.8463 after opening on Monday at 0.8334, the kiwi gained 100pts this week as positive sentiment as the commodity currencies traded strong as investors looked for additional risk and on the back of strong eco data from China, where reports showed an expansion after months of contraction. The NZD dairy association increased their forecast and outlook for 2013 helping to support the kiwi, which exports a huge percentage of dairy products and its main trading partner China saw a huge increase in retail sales this past week.

Date	Last	Open	High	Low	Change %
Dec 14, 2012	0.8463	0.8434	0.8476	0.8396	0.34%
Dec 13, 2012	0.8434	0.8427	0.8460	0.8422	0.09%
Dec 12, 2012	0.8426	0.8394	0.8453	0.8386	0.38%
Dec 11, 2012	0.8394	0.8342	0.8398	0.8335	0.62%
Dec 10, 2012	0.8342	0.8334	0.8354	0.8324	0.10%

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 for the week of December 10-14 actual v. forecast for Yen, the Aussie, the Kiwi and USD

Date	Currency	Event	Actual	Forecast	Previous
Dec. 10	AUD	Home Loans (MoM)	0.1%	3.0%	1.1%
	CNY	Chinese Trade Balance	19.60B	25.70B	32.00B
Dec. 11	AUD	NAB Business Confidence	-9		-1
	USD	Trade Balance	-42.2B	-42.6B	-40.3B
	AUD	Westpac Consumer Sentiment	-4.10%		5.20%
	JPY	Tertiary Industry Activity Index (MoM)	-0.1%	-0.3%	0.2%
Dec. 12	USD	Import Price Index (MoM)	-0.9%	-0.5%	0.3%
	USD	10-Year Note Auction	1.652%		1.675%
	USD	Interest Rate Decision	0.25%	0.25%	0.25%
	USD	Federal Budget Balance	-172.1B	-150.0B	-120.0B
Dec. 13	USD	Core PPI (MoM)	0.1%	0.2%	-0.2%
	USD	Core Retail Sales (MoM)	0.0%	-0.1%	0.0%
	USD	PPI (MoM)	-0.8%	-0.5%	-0.2%
	USD	Retail Sales (MoM)	0.3%	0.5%	-0.3%
	USD	Initial Jobless Claims	343K	370K	372K
	USD	Continuing Jobless Claims	3198K	3210K	3221K
	USD	PPI (YoY)	1.5%	1.8%	2.3%
	USD	Core PPI (YoY)	2.2%	2.2%	2.1%
	JPY	Tankan Large Manufacturers Index	-12	-10	-3
Dec. 14	CNY	Chinese HSBC Manufacturing PMI	50.90		50.50
	JPY	Industrial Production (MoM)	1.6%	1.8%	1.8%
	USD	Core CPI (MoM)	0.1%	0.2%	0.2%
	USD	CPI (MoM)	-0.3%	-0.2%	0.1%
	USD	CPI (YoY)	1.8%	1.9%	2.2%
	USD	Core CPI (YoY)	1.9%	2.0%	2.0%
	USD	Industrial Production (MoM)	1.1%	0.3%	-0.7%
	ARS	Argentinian CPI (MoM)	0.9%	0.7%	0.8%

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. 17	13:30	USD	NY Empire State Manufacturing Index	-1.0	-5.2
	14:00	USD	TIC Net Long-Term Transactions		3.3B
Dec. 18	13:30	USD	Current Account	-103.5B	-117.4B
	21:45	NZD	Current Account	-4.40B	-1.80B
Dec. 19	13:30	USD	Building Permits	0.875M	0.868M
	13:30	USD	Housing Starts	0.870M	0.894M
	21:45	NZD	GDP (QoQ)	0.4%	0.6%