By FXEmpire.com
NZD/USD Fundamental Analysis April 5, 2012, Forecast
Analysis and Recommendation: (close of the Asian session)
The NZD/USD is ending the day at 0.8164.
The New Zealand dollar has tumbled after the Federal Reserve ruled out any additional monetary stimulus.
This removed a threat to the US dollar, which rallied against most major currencies.
The New Zealand dollar fell as low as 81.55 US cents after the release of minutes from the Fed’s March 13 meeting, from 82.34 US cents immediately before the announcement. The kiwi traded at 81.82 cents at 8am
.Investors’ hopes were diminished that the Fed might add possible monetary stimulus to the world’s largest economy.
If the US data continues to get better we will eventually see the kiwi dollar improve against the US.
Economic Events April 3, 2012 actual v. forecast
|
JPY |
Monetary Base (YoY) |
-0.2% |
12.6% |
11.3% |
|
JPY |
Average Cash Earnings (YoY) |
0.7% |
0.2% |
-0.9% |
|
AUD |
Retail Sales (MoM) |
0.2% |
0.3% |
0.3% |
|
AUD |
Interest Rate Decision |
4.25% |
4.25% |
4.25% |
|
AUD |
RBA Rate Statement |
|||
|
TRY |
Turkish CPI (MoM) |
0.41% |
0.59% |
0.56% |
|
TRY |
Turkish PPI (MoM) |
0.36% |
0.74% |
-0.09% |
|
GBP |
Construction PMI |
56.7 |
53.5 |
54.3 |
|
EUR |
GDP (QoQ) |
-0.3% |
-0.3% |
-0.3% |
|
EUR |
PPI (MoM) |
0.6% |
0.5% |
0.8% |
|
GBP |
10-Year Treasury Gilt Auction |
2.22% |
2.18% |
|
|
BRL |
Brazilian Industrial Production (YoY) |
-3.9% |
-5.8% |
-3.4% |
|
USD |
Redbook (MoM) |
0.70% |
0.50% |
|
|
USD |
New York NAPM |
551.80 |
543.10 |
|
|
USD |
Factory Orders (MoM) |
1.3% |
1.5% |
-1.1% |
|
USD |
Global Semiconductor Sales (MoM) |
-1.3% |
-2.7% |
Economic Events for April 5, 2012 that affect the AUD, NZD and the JPY
As the Easter holiday draws closer and with several Asian Markets closed mid week for local holidays volume is down and there are no economic events scheduled for the Asian Markets.
In the US we will see:
13:30 USD Initial Jobless Claims 355K 359K
13:30 USD Continuing Jobless Claims 3350K 3340K
Initial Jobless Claims measures the number of individuals who filed for unemployment insurance for the first time during the past week. This is the earliest U.S. economic data, but the market impact varies from week to week. Continuing Jobless Claims measures the number of unemployed individuals who qualify for benefits under unemployment insurance. Initial Jobless Claims measures the number of individuals who filed for unemployment insurance for the first time during the past week. This is the earliest U.S. economic data, but the market impact varies from week to week.
Government Bond Auctions (this week)
Apr 04 14:30 Sweden Details T-bill auction on Apr 11
Apr 05 08:50 France OAT auction
Apr 05 15:00 US Announces auctions
Apr 05 15:30 Italy Details BOT on Apr 11 & BTP/CCTeu on Apr 12
Originally posted here
