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NZD/USD Fundamental Analysis March 23, 2012, Forecast

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By FXEmpire.com

NZD/USD Fundamental Analysis March 23, 2012, Forecast

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

CAD

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

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