By FXEmpire.com
Analysis and Recommendation:
The NZD/USD remained over the .80 level trading this morning at 0.8013 as investors moved to more risk assets after the plan from the EU was announced on Friday.
The DX dropped to well below 82 after the announcement but has regained some strength over the week trading currently at 81.91.
Initial reaction to the plan was positive and investor’s mood changed to a more positive disposition.
Commodities and commodity currencies rose on Friday and have been able to maintain their gains this morning.
Although disappointing news from China as PMI reaches forecast but just leaves markets worrying about the slow turnaround.
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 1-2, 2012 actual v. forecast
|
Date |
Event |
Actual |
Forecast |
Previous |
|||||||||
|
Jul. 01 |
KRW |
South Korean Trade Balance |
5.00B |
2.30B |
|||||||||
|
CNY |
Chinese Mfg PMI |
50.20 |
49.80 |
50.40 |
|||||||||
|
Jul. 02 |
KRW |
South Korean CPI (YoY) |
2.2% |
2.5% |
2.5% |
||||||||
|
KRW |
South Korean CPI (MoM) |
0.2% |
0.2% |
||||||||||
|
AUD |
AIG Manufacturing Index |
47.4 |
42.4 |
||||||||||
|
JPY |
Tankan Large Mfg Index |
-1 |
-4 |
-4 |
|||||||||
|
JPY |
Tankan Non-Mfg Index |
8 |
7 |
5 |
|||||||||
|
KRW |
South Korean HSBC Mfg PMI |
49.38 |
51.03 |
||||||||||
|
AUD |
MI Inflation Gauge (MoM) |
-0.2% |
0.0% |
||||||||||
|
CNY |
Chinese HSBC Mfg PMI |
48.20 |
48.10 |
||||||||||
Upcoming Economic Events that affect the AUD, NZD, JPY and USD
|
Date |
Time |
Currency |
Event |
Forecast |
Previous |
|
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 to read NZD/USD Technical Analysis.
Originally posted here
