By FXEmpire.com
NZD/USD Fundamental Analysis March 23, 2012, Forecast
Analysis and Recommendation: (close of the Asian session)
The NZD/USD began falling before today’s GDP figures were released. Opening at 0.8156 and falling to trade at 0.8087.
Economists expected GDP in the final three months of 2011 to have slowed to 0.6 per cent from 0.8 per cent in the September quarter. The actual came in well under expectation as 0.3%
The NZD began to fall prior to the release as has stayed depressed since.
The data comes a day after government figures showed the current account deficit narrowed more than expected in the fourth quarter, amid record exports of dairy products and smaller dividends paid out to foreigners
Economic Data March 21 and 22, 2012 actual v. forecast
Mar. 21 |
00:30 |
AUD |
MI Leading Index (MoM) |
0.6% |
0.7% |
|
03:00 |
NZD |
Credit Card Spending (YoY) |
4.0% |
3.1% |
||
05:30 |
JPY |
All Industries Activity Index (MoM) |
-1.0% |
-0.5% |
1.6% |
|
08:30 |
THB |
Thai Trade Balance |
0.52B |
-0.10B |
-0.20B |
|
08:30 |
THB |
Thai Interest Rate Decision |
3.00% |
3.00% |
3.00% |
|
10:30 |
GBP |
MPC Meeting Minutes |
||||
10:30 |
GBP |
Public Sector Net Borrowing |
12.9B |
5.2B |
-10.2B |
|
11:30 |
EUR |
German 2-Year Schatz Auction |
0.310% |
0.250% |
||
12:00 |
USD |
MBA Mortgage Applications |
-7.4% |
-2.4% |
||
13:30 |
Leading Indicators (MoM) |
0.6% |
0.6% |
0.4% |
||
14:30 |
USD |
Fed Chairman Bernanke Testifies |
||||
15:00 |
USD |
Existing Home Sales |
4.59M |
4.61M |
4.63M |
|
Mar. 22 |
15:00 |
JPY |
Trade Balance |
-0.31T |
-0.34T |
-0.49T |
Economic Events Scheduled for March 23, 2012
There are no events scheduled at this present time that directly affect the AUD, NZD or JPY
Government Bond Auctions (this week)
Mar 22 10:10 Sweden I/L bond auction
Mar 22 10.30 UK Auctions 0.625% 2042 I/L Gilt
Mar 22 15:00 US
Announces auctions of 2Y Notes on Mar 27, 5Y Notes on Mar
28 & 7Y Notes on Mar 29
Originally posted here