NZD/USD Fundamental Analysis April 11, 2012, Forecast

By FXEmpire.com

Analysis and Recommendation: (close of the Asian session)

The NZD/USD rose on speculation the Federal Reserve may introduce a third round of asset purchases after a report showed US employers added fewer jobs than expected in March.

The New Zealand dollar rose to 82.27 US cents at 8am from 81.63 at the close of trading in New York on Friday. US non-farm payrolls increased by 120,000 in March, according to government figures. That’s short of the 205,000 forecast by economists in a Bloomberg survey, and the smallest gain in five months.

The New Zealand dollar’s gains have been sparked by the non-farms data.

The data led to the market being bearish on world growth and more people focusing on what (US Fed chairman Ben) Bernanke has been talking about for the last two months, that employment is still a great concern for the US economy.

Economic Data for April 9-10, 2012 actual v. forecast

Apr. 09	JPY	Adjusted Current Account	0.85T	0.66T	0.14T
CNY	Chinese CPI (YoY)	3.6%	3.3%	3.2%
CNY	Chinese PPI (YoY)	-0.3%	-0.2%	0.0%
JPY	Economy Watchers Current Index	51.8	46.5	45.9
RUB	Russian Interest Rate Decision	8.00%	8.00%	8.00%
TRY	Turkish Industrial Production (YoY)	4.40%	3.50%	1.50%
TWD	Taiwanese Trade Balance	2.36B	2.19B	2.83B
EUR	Greek CPI (YoY)	1.70%	2.10%
EUR	Greek Industrial Production (YoY)	-8.30%	-5.00%
EUR	Portuguese Trade Balance	-2.88B	-3.08B
USD	CB Employment Trends Index	107.28	107.47
USD	3-Month Bill Auction	0.085%	0.075%
USD	6-Month Bill Auction	0.150%	0.140%
Apr. 10	GBP	RICS House Price Balance	-10%	-12%	-13%
USD	Fed Chairman Bernanke Speaks
AUD	AIG Construction Index	36.2	35.6
AUD	NAB Business Confidence	3	1
MYR	Malaysian Trade Balance	10.58B	9.20B	8.75B
MYR	Malaysian Industrial Production (YoY)	7.5%	6.5%	0.3%

Economic Events for April, 11, 2012

02:30 AUD Home Loans (MoM) -3.5% -1.2%

Home Loans record the change in the number of new loans granted for owner-occupied homes. It is a leading indicator of demand in the housing market.

13:30 USD Import Price Index (MoM) 0.8% 0.4%

The Import Price Index measures the change in the price of imported goods and services purchased domestically.

19:00 USD Federal Budget Balance -201.5B -232.0B

The Federal Budget Balance measures the difference in value between the federal government’s income and expenditure during the reported month. A positive number indicates a budget surplus; a negative number indicates a deficit.

Government Bond Auctions April 10-20, 2012

Apr 11 09:10 Italy BOT auction

Apr 11 09:30 Germany Eur 5.0bn new Jul 2022 Bund

Apr 11 09:10 Sweden Sek 5.0bn Jul 2012 & Sek 5.0bn Sep 2012 T-bills

Apr 11 09:30 Swiss Bond auction

Apr 11 09:30 UK Gbp 4.5bn 1.0% Sep 2017 Conventional Gilt

Apr 11 10:00 Norway Details T-bill auction on Apr 16

Apr 11 14:30 Sweden Details nominal bond auction on Apr 18

Apr 11 17:00 US Auctions 10Y Notes

Apr 12 09:10 Italy BTP/CCTeu auction

Apr 12 09:30 UK Gbp 2.0bn 4.25% Jun 2032 Conventional Gilt

Apr 12 15:00 US Announces auction of 5Y TIPS on Apr 19

Apr 12 17:00 US Auctions 30Y Bonds

Apr 13 10:00 Belgium OLO mini bond auction

Apr 16-30 n/a UK Re-opened 3.75% 2052 Conventional Gilt syndication

Apr 16 09:10 Slovakia Auctions floating rate Nov 2016 & 4.35% Oct 2025 & Bonds

Apr 16 09:10 Norway T-bill auction

Apr 17 08:30 Spain 12 & 18M T-bill auction

Apr 17 09:30 Belgium Auctions 3 & 12M T-bills

Apr 18 09:10 Sweden Nominal bond auction

Apr 18 09:30 Germany Eur 5.0bn 0.25% Mar 2014 Schatz

Apr 18 14:30 Sweden Details T-bill auction on Apr 25

Apr 19 08:30 Spain Obligacion auction

Apr 19 08:50 France BTAN auction

Apr 19 09:30 UK Auctions 0.125% I/L Gilt 2029

Apr 19 09:50 France OATi auction

Apr 19 15:00 US Announces 2Y Notes on Apr 24, 5Y Notes on Apr 25 & 7Y Notes on Apr 26

Apr 19 17:00 US Auctions 5Y TIPS

Apr 20 15:30 Italy Details CTZ/BTPei on Apr 24 & BOT on Apr 26

Originally posted here