By FXEmpire.com

Analysis and Recommendation: (close of the Asian session)

The NZD/USD is trading on Monday at 0.7920 having recovered some of its losses from last week.

On a light news day with little in the way of eco data and the US markets closed for a long holiday weekend, the kiwi was able to regain some strength.

The markets are indicating that there is additional hope for the euro, as the New Democratic Party, which favors remaining in the euro, seems to be gaining a lead, but elections are still a long way off.

There are rumors of talks between the ECB and Spain to help prop up the Spanish banks but no confirmed information.

On light news flows and low volume, investors are clinging to any hopes they can grab on to. Also on Friday by mid day in the US most traders moved out of the markets are positioned themselves for the long week.

After a disappointing trade balance report in New Zealand at the end of last week, this pair needs some strong eco data to prop it up. Although the new budget proposal has been well received.

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.

Upcoming Economic Events that affect the AUD, NZD, JPY and USD

Date

Time

Currency

Previous

May 29

TBD

AUD

HIA New Home Sales m/m

-9.4%

13:00

USD

S&P/CS Composite-20 HPI y/y

-3.5%

14:00

USD

CB Consumer Confidence

69.2

22:45

NZD

Building Consents m/m

19.8%

May 30

1:30

AUD

Retail Sales m/m

0.9%

1:30

AUD

Construction Work Done q/q

-4.6%

14:00

USD

Pending Home Sales m/m

4.1%

23:50

JPY

Prelim Industrial Production m/m

1.3%

May 31

1:00

NZD

NBNZ Business Confidence

35.8

1:30

AUD

Building Approvals m/m

7.4%

1:30

AUD

Private Capital Expenditure q/q

-0.3%

1:30

AUD

Private Sector Credit m/m

0.4%

1:30

JPY

Average Cash Earnings y/y

1.3%

12:15

USD

ADP Non-Farm Employment Change

119K

12:30

USD

Prelim GDP q/q

2.2%

12:30

USD

Unemployment Claims

370K

13:45

USD

Chicago PMI

56.2

15:00

USD

Crude Oil Inventories

0.9M

23:50

JPY

Capital Spending q/y

7.6%

Jun 1

12:30

USD

Non-Farm Employment Change

115K

12:30

USD

Unemployment Rate

8.1%

12:30

USD

Core PCE Price Index m/m

0.2%

12:30

USD

Personal Spending m/m

0.3%

14:00

USD

ISM Manufacturing PMI

54.8

Click here for updated NZD/USD News.

Originally posted here