By FXEmpire.com
Introduction: The recent strength of the kiwi, a currency sometimes overlooked by traders, made its moves much more predictable. This applies to support and resistance lines alike. This is a very safe pair to trade, not a great deal of volatility but predictability.
Weekly Analysis and Recommendation:
The NZD/USD was the benefactor of the EU Summit new “plan” which has been hailed by traders. The NZD had remained depressed even after reporting an increase in GDP earlier in the week. Contagion from the EU was the overall theme and depressed all commodity currencies.
|
Date |
Open |
High |
Change % |
||
|
Jun 29, 2012 |
0.8013 |
0.7869 |
0.8042 |
0.7854 |
1.83% |
|
Jun 28, 2012 |
0.7869 |
0.7914 |
0.7963 |
0.7840 |
-0.58% |
|
Jun 27, 2012 |
0.7915 |
0.7892 |
0.7928 |
0.7876 |
0.29% |
|
Jun 26, 2012 |
0.7892 |
0.7872 |
0.7932 |
0.7870 |
0.25% |
|
Jun 25, 2012 |
0.7872 |
0.7877 |
0.7886 |
0.7844 |
-0.05% |
Friday, saw the USD fall, as investors moved to more risk, and the NZD was a major recipient. This past week we saw a drop in trade balance and a rise in building consents.
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 June 25 – 29 actual v. forecast for Yen, the Aussie and the Kiwi
|
Date |
Currency |
Event |
Actual |
Forecast |
Previous |
|
Jun 26 |
NZD |
Trade Balance |
301M |
305M |
335M |
|
Jun 27 |
JPY |
Retail Sales y/y |
3.6% |
3.1% |
5.7% |
|
AUD |
HIA New Home Sales m/m |
0.7% |
6.9% |
||
|
NZD |
NBNZ Business Confidence |
12.6 |
27.1 |
||
|
Jun 28 |
NZD |
Building Consents m/m |
-7.1% |
-7.6% |
|
|
JPY |
Household Spending y/y |
4.0% |
2.5% |
2.6% |
|
|
JPY |
Tokyo Core CPI y/y |
-0.6% |
-0.7% |
-0.8% |
|
|
JPY |
Prelim Industrial Production m/m |
-3.1% |
-2.7% |
-0.2% |
|
|
AUD |
Private Sector Credit m/m |
0.5% |
0.5% |
0.4% |
Historical
Highest: 0.8816 USD on Jul 31, 2011.
Average: 0.7543 USD over this period.
Lowest: 0.6619 USD on Jun 07, 2010.
Economic Highlights of the coming week that affect the AUD, JPY, NZD and USD
|
Date |
Time |
Currency |
Event |
Forecast |
Previous |
|
Jul 2 |
10:00am |
USD |
ISM Manufacturing PMI |
52.1 |
53.5 |
|
9:30pm |
AUD |
Building Approvals m/m |
5.1% |
-8.7% |
|
|
9:30pm |
JPY |
Average Cash Earnings y/y |
0.6% |
0.2% |
|
|
Jul 3 |
12:30am |
AUD |
Cash Rate |
3.50% |
3.50% |
|
10:00am |
USD |
Factory Orders m/m |
0.1% |
-0.6% |
|
|
7:30pm |
AUD |
AIG Services Index |
43.5 |
||
|
9:30pm |
AUD |
Retail Sales m/m |
0.3% |
-0.2% |
|
|
Jul 4 |
9:30pm |
AUD |
Trade Balance |
-0.51B |
-0.20B |
|
Jul 5 |
8:15am |
USD |
ADP Non-Farm Employment Change |
101K |
133K |
|
8:30am |
USD |
Unemployment Claims |
385K |
386K |
|
|
10:00am |
USD |
ISM Non-Manufacturing PMI |
53.1 |
53.7 |
|
|
11:00am |
USD |
Crude Oil Inventories |
-0.1M |
||
|
Jul 6 |
8:30am |
USD |
Non-Farm Employment Change |
92K |
69K |
|
8:30am |
USD |
Unemployment Rate |
8.2% |
8.2% |
Click here a current NZD/USD Chart.
Originally posted here
