By FXEmpire.com
Analysis and Recommendation:
The NZD/USD is trading at 0.7952 adding a few pips. Commodity currencies have all traded up this morning, without much supportive data. Investors are positioning themselves before the EU Summit and also in hopes of some positive outcome.
There has been some euro buying and dollar selling with the DX falling slightly ahead of the meeting. After positive housing data in the US and a strong durable goods report, investors have also moved to some higher risk assets, but just a bit.
The three ring circus better known as the EcoFin Summit is about to formally begin this morning but all week long there have been meetings and plans and press conferences.
Markets are expected to remain quiet and calm and ignore most of the news flow until the end of the conference. Itay, will be a main focus along with Spain and Greece.
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 June 27-28, 2012 actual v. forecast
|
Date |
Currency |
Importance |
Event |
Actual |
Forecast |
Previous |
|
USD |
Core Durable Goods Orders (MoM) |
0.4% |
0.7% |
-0.6% |
||
|
USD |
Durable Goods Orders (MoM) |
1.1% |
0.4% |
-0.2% |
||
|
USD |
Pending Home Sales (MoM) |
5.9% |
1.0% |
-5.5% |
||
|
Jun. 28 |
JPY |
Retail Sales (YoY) |
3.6% |
3.0% |
5.7% |
|
|
AUD |
HIA New Home Sales (MoM) |
0.7% |
6.9% |
Upcoming Economic Events that affect the AUD, NZD, JPY and USD
|
Date |
Time |
Currency |
Event |
Previous |
|
Jun 29 |
12:30 |
USD |
Core PCE Price Index m/m |
0.1% |
|
12:30 |
USD |
Personal Spending m/m |
0.3% |
|
|
13:45 |
USD |
Chicago PMI |
52.7 |
|
|
13:55 |
USD |
Revised UoM Consumer Sentiment |
74.1 |
Click here to read NZD/USD Technical Analysis.
Originally posted here
