By FXEmpire.com
Analysis and Recommendation:
The NZD/USD rose almost one US cent on optimism European policymakers will act to stimulate the region’s economy and prop up Spanish banks.
With the Federal Reserve also saying the US economy continues to grow at a modest pace, the New Zealand dollar increased to 0.7708.
European Central Bank president Mario Draghi said policymakers were “ready to act” after the central bank left its benchmark rate at a record low one per cent.
The ECB also extended its lending to banks for up to three years, providing some hope for ailing Spanish lenders.
In the US, the Federal Reserve said the world’s largest economy maintained a moderate pace of growth as factory output rose and the real estate market improved.
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 6-7, 2012 actual v. forecast
|
EUR |
GDP (QoQ) |
0.0% |
0.0% |
0.0% |
|
|
EUR |
German Industrial Production (MoM) |
-2.2% |
-1.0% |
2.2% |
|
|
EUR |
Interest Rate Decision |
1.00% |
1.00% |
1.00% |
|
|
USD |
Nonfarm Productivity (QoQ) |
-0.9% |
-0.7% |
-0.5% |
|
|
USD |
Unit Labor Costs (QoQ) |
1.3% |
2.2% |
2.0% |
|
|
Jun. 07 |
AUD |
Employment Change |
38.9K |
-5.0K |
15.5K |
|
AUD |
Unemployment Rate |
5.1% |
5.1% |
5.0% |
Upcoming Economic Events that affect the AUD, NZD, JPY and USD
|
Date |
Time |
Currency |
Previous |
|
|
Jun 8 |
1:30 |
AUD |
Trade Balance |
-1.59B |
|
1:30 |
AUD |
Home Loans m/m |
0.3% |
|
|
12:30 |
USD |
Trade Balance |
-51.8B |
|
|
14:00 |
USD |
Fed Chairman Bernanke Testifies |
Click here for updated NZD/USD News.
Originally posted here
