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 responded to the whims of the market this week ending at 0.8075. As the US added strength and weakness so did the kiwi.
The New Zealand dollar rose after German Chancellor Angela Merkel provided a boost to the eurozone, signaling her conditional support to the European Central Bank’s bond buying programme.
Merkel reiterated her commitment to working with the ECB to resolve the region’s debt crisis and to help reduce the borrowing costs of indebted nations, in her first public comment on the turmoil in over a month.
This was a quiet week for Asian markets, with China being the focal point as traders await word of monetary stimulus.
|
Date |
Open |
High |
Change % |
||
|
Aug 17, 2012 |
0.8075 |
0.8117 |
0.8118 |
0.8062 |
-0.52% |
|
Aug 16, 2012 |
0.8117 |
0.8068 |
0.8124 |
0.8056 |
0.61% |
|
Aug 15, 2012 |
0.8068 |
0.8048 |
0.8075 |
0.8038 |
0.25% |
|
Aug 14, 2012 |
0.8048 |
0.8093 |
0.8114 |
0.8038 |
-0.54% |
|
Aug 13, 2012 |
0.8092 |
0.8110 |
0.8128 |
0.8078 |
-0.22% |
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 August 13-17, 2012 actual v. forecast for Yen, the Aussie, the Kiwi and USD
|
Date |
Time |
Currency |
Event |
Actual |
Forecast |
Previous |
|
Aug 13 |
22:45 |
NZD |
Core Retail Sales q/q |
0.9% |
1.0% |
-1.4% |
|
Aug 14 |
12:30 |
USD |
Core Retail Sales m/m |
0.8% |
0.4% |
-0.8% |
|
12:30 |
USD |
PPI m/m |
0.3% |
0.3% |
0.1% |
|
|
12:30 |
USD |
Retail Sales m/m |
0.8% |
0.3% |
-0.7% |
|
|
Aug 15 |
12:30 |
USD |
Core CPI m/m |
0.1% |
0.2% |
0.2% |
|
Aug 16 |
12:30 |
USD |
Building Permits |
0.81M |
0.77M |
0.76M |
|
12:30 |
USD |
Unemployment Claims |
366K |
365K |
364K |
|
|
14:00 |
USD |
Philly Fed Manufacturing Index |
-7.1 |
-4.7 |
-12.9 |
|
|
22:45 |
NZD |
PPI Input q/q |
0.6% |
-0.2% |
0.3% |
|
|
Aug 17 |
13:55 |
USD |
Prelim UoM Consumer Sentiment |
73.6 |
72.5 |
72.3 |
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 |
Previous |
|
Aug 21 |
1:30 |
AUD |
Monetary Policy Meeting Minutes |
|
|
3:00 |
NZD |
Inflation Expectations q/q |
2.4% |
|
|
23:50 |
JPY |
Trade Balance |
-0.30T |
|
|
Aug 22 |
0:30 |
AUD |
MI Leading Index m/m |
0.8% |
|
14:00 |
USD |
Existing Home Sales |
4.37M |
|
|
14:30 |
USD |
Crude Oil Inventories |
-3.7M |
|
|
18:00 |
USD |
FOMC Meeting Minutes |
||
|
Aug 23 |
12:30 |
USD |
Unemployment Claims |
366K |
|
13:00 |
USD |
Flash Manufacturing PMI |
51.4 |
|
|
14:00 |
USD |
New Home Sales |
350K |
|
|
23:30 |
AUD |
RBA Gov Stevens Speaks |
||
|
Aug 24 |
0:00 |
AUD |
CB Leading Index m/m |
0.4% |
|
12:30 |
USD |
Core Durable Goods Orders m/m |
-1.1% |
|
|
12:30 |
USD |
Durable Goods Orders m/m |
1.6% |
Click here a current NZD/USD Chart.
Originally posted here
