By FXEmpire.com
Analysis and Recommendation:
The NZD/USD is trading this morning at 0.8085. The kiwi is expected to climb this week. Today eco data showed that building consents climbed for the month. Compared to a decline of 7.1% last month, June reported an increase of 5.7%.
ECB President Mario Draghi’s pledge last week to do “whatever it takes” to preserve the euro has been supported by German Chancellor Angela Merkel and French President Francois Hollande who said they’ll do “everything” necessary to protect the single currency.
The kiwi will be relatively well supported in this environment.
Market reaction to his comments will come swiftly.
Spain, Italy, Germany and Belgium are all set to sell debt this week. Last week, Spain’s 10-year yield fell 52 basis points to 6.74 percent, the biggest weekly drop since Dec. 2, according to Bloomberg, as the nation appeared closer to asking for a 300 billion euro bailout.
The Fed’s two-day policy meeting starts on Wednesday and follows a government report on Friday which showed economic growth in the world’s largest economy slowed in the second quarter. That’s underpinned further hopes the Fed will be forced to stimulate the US economy.
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 up to the data analysis and information in our weekly reports.
Economic Data July 29-30, 2012 actual v. forecast
|
Date |
Currency |
Event |
Actual |
Forecast |
Previous |
|
Jul. 29 |
KRW |
South Korean manufacturing BSI Index |
69.00 |
81.00 |
|
|
NZD |
Building Consents (MoM) |
5.7% |
-7.1% |
||
|
Jul. 30 |
JPY |
Industrial Production (MoM) |
-0.1% |
1.5% |
-3.4% |
|
AUD |
HIA New Home Sales (MoM) |
2.8% |
0.7% |
Upcoming Economic Events that affect the AUD, NZD, JPY and USD
|
Date |
Time |
Currency |
Event |
Previous |
|
Jul 31 |
1:00 |
NZD |
12.6 |
|
|
1:30 |
AUD |
27.3% |
||
|
1:30 |
AUD |
0.5% |
||
|
1:30 |
JPY |
-1.1% |
||
|
12:30 |
USD |
0.1% |
||
|
12:30 |
USD |
0.4% |
||
|
12:30 |
USD |
0.0% |
||
|
13:00 |
USD |
-1.9% |
||
|
13:45 |
USD |
52.9 |
||
|
14:00 |
USD |
62.0 |
||
|
Aug 1 |
1:30 |
AUD |
-1.1% |
|
|
12:15 |
USD |
176K |
||
|
14:00 |
USD |
49.7 |
||
|
18:15 |
USD |
|||
|
Aug 2 |
1:30 |
AUD |
0.5% |
|
|
1:30 |
AUD |
-0.29B |
||
|
12:30 |
USD |
|||
|
14:00 |
USD |
0.7% |
||
|
23:30 |
AUD |
48.8 |
||
|
Aug 3 |
12:30 |
USD |
80K |
|
|
12:30 |
USD |
8.2% |
||
|
12:30 |
USD |
0.3% |
||
|
14:00 |
USD |
52.1 |
NZD/USD Fundamental Analysis July 31, 2012, Forecast
Analysis and Recommendation:
The NZD/USD is trading this morning at 0.8085. The kiwi is expected to climb this week. Today eco data showed that building consents climbed for the month. Compared to a decline of 7.1% last month, June reported an increase of 5.7%.
ECB President Mario Draghi’s pledge last week to do “whatever it takes” to preserve the euro has been supported by German Chancellor Angela Merkel and French President Francois Hollande who said they’ll do “everything” necessary to protect the single currency.
The kiwi will be relatively well supported in this environment.
Market reaction to his comments will come swiftly.
Spain, Italy, Germany and Belgium are all set to sell debt this week. Last week, Spain’s 10-year yield fell 52 basis points to 6.74 percent, the biggest weekly drop since Dec. 2, according to Bloomberg, as the nation appeared closer to asking for a 300 billion euro bailout.
The Fed’s two-day policy meeting starts on Wednesday and follows a government report on Friday which showed economic growth in the world’s largest economy slowed in the second quarter. That’s underpinned further hopes the Fed will be forced to stimulate the US economy.
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 up to the data analysis and information in our weekly reports.
Economic Data July 29-30, 2012 actual v. forecast
|
Date |
Currency |
Event |
Actual |
Forecast |
Previous |
|
Jul. 29 |
KRW |
South Korean manufacturing BSI Index |
69.00 |
81.00 |
|
|
NZD |
Building Consents (MoM) |
5.7% |
-7.1% |
||
|
Jul. 30 |
JPY |
Industrial Production (MoM) |
-0.1% |
1.5% |
-3.4% |
|
AUD |
HIA New Home Sales (MoM) |
2.8% |
0.7% |
Upcoming Economic Events that affect the AUD, NZD, JPY and USD
|
Date |
Time |
Currency |
Event |
Previous |
|
Jul 31 |
1:00 |
NZD |
12.6 |
|
|
1:30 |
AUD |
27.3% |
||
|
1:30 |
AUD |
0.5% |
||
|
1:30 |
JPY |
-1.1% |
||
|
12:30 |
USD |
0.1% |
||
|
12:30 |
USD |
0.4% |
||
|
12:30 |
USD |
0.0% |
||
|
13:00 |
USD |
-1.9% |
||
|
13:45 |
USD |
52.9 |
||
|
14:00 |
USD |
62.0 |
||
|
Aug 1 |
1:30 |
AUD |
-1.1% |
|
|
12:15 |
USD |
176K |
||
|
14:00 |
USD |
49.7 |
||
|
18:15 |
USD |
|||
|
Aug 2 |
1:30 |
AUD |
0.5% |
|
|
1:30 |
AUD |
-0.29B |
||
|
12:30 |
USD |
|||
|
14:00 |
USD |
0.7% |
||
|
23:30 |
AUD |
48.8 |
||
|
Aug 3 |
12:30 |
USD |
80K |
|
|
12:30 |
USD |
8.2% |
||
|
12:30 |
USD |
0.3% |
||
|
14:00 |
USD |
52.1 |
Click here to read NZD/USD Technical Analysis.
Originally posted here
