By FXEmpire.com
Analysis and Recommendation: (close of the Asian session)
The NZD/USD continued to tumble today, trading at 0.7877. The kiwi dollar fell to a four-month low over concern the commitment of new French and Greek governments to austerity measures may waiver, undermining the euro zone economy.
The kiwi fell to 78.75 US cents from 79.29 cents. Earlier it touched 78.61 cents, the lowest since January
As continued uncertainty grows in Europe and the more likely that Greece will leave the union, the more the markets worry and continue to flood the safe harbor of the USD and JPY.
Releasing the bank’s May financial stability report, governor Alan Bollard said the nation’s financial stability has improved since the last report in November as policy programs in Europe allay fears of a market breakdown.
Any disruption to global funding markets was singled out as a “key risk” to New Zealand banks.
Economic Reports for May 9-10, 2012 actual v. forecast
|
May 10 |
AUD |
Employment Change |
15.5K |
-5.5K |
44.0K |
|
AUD |
Unemployment Rate |
4.9% |
5.3% |
5.2% |
|
|
CNY |
Chinese Trade Balance |
18.40B |
8.50B |
5.35B |
Upcoming Economic Events that affect the AUD, NZD, JPY, CNY and USD
|
May 11 |
02:30 |
CNY |
Chinese PPI (YoY) |
-0.3% |
|
02:30 |
CNY |
Chinese CPI (MoM) |
0.2% |
|
|
06:30 |
CNY |
Chinese Fixed Asset Investment (YoY) |
20.9% |
|
|
06:30 |
CNY |
Chinese Industrial Production (YoY) |
11.9% |
|
|
06:30 |
CNY |
Chinese Retail Sales (YoY) |
15.2% |
|
|
13:30 |
USD |
Core PPI (MoM) |
0.3% |
|
|
13:30 |
USD |
PPI (MoM) |
0.0% |
|
|
14:55 |
USD |
Michigan Consumer Sentiment |
76.4 |
Government Bond Auctions (this week)
Date Time Country
May 11 09:10 Italy BOT auction
May 11 10:00 Belgium
Click here for further NZD/USD Forecast.
Originally posted here
