By FXEmpire.com
NZD/USD Fundamental Analysis April 6, 2012, Forecast
Analysis and Recommendation: (close of the Asian session)
REMEMBER MARKETS MOST MARKETS ARE CLOSED ON FRIDAY APRIL 6, 2012 AND MANY REMAIN CLOSED ON MONDAY APRIL 12, 2012
The NZD/USD fell after weak demand at a Spanish bond auction caused stocks on Wall Street to fall, reigniting fears the region’s sovereign-debt crisis is far from over.
The New Zealand dollar fell to 81.40 US cents after opening at 81.60. Tepid demand at a Spanish government bond auction spooked investors who had been upbeat about global growth prospects and sparked a sell-off in higher-yielding, or riskier, assets.
New car sales exceeded expectations in March, led by an increase in the number of new car passenger sales.
The number of new vehicles rose 3% to 8,528 in March from a year earlier, the Motor Trade Association said, citing NZ Transport Agency figures.
“There is a good amount of economic optimism out there – certainly more than some commentators had predicted,” said Ian Stronach, market and communications general manager at the Motor Trade Association.
Economic Reports for April 4 & 5, 2012 actual v. forecast that affect the AUD, NZD, JPY and USD
|
Apr. 04 |
AUD |
AIG Services Index |
47.0 |
46.7 |
|
NZD |
ANZ Commodity Price Index (MoM) |
-1.7% |
0.0% |
|
|
AUD |
-0.48B |
1.00B |
-0.97B |
|
|
USD |
MBA Mortgage Applications |
4.8% |
-2.7% |
|
|
USD |
||||
|
USD |
ADP Nonfarm Employment Change |
209K |
200K |
230K |
|
USD |
ISM Non-Manufacturing Index |
56.0 |
57.0 |
57.3 |
|
USD |
Crude Oil Inventories |
9.0M |
2.2M |
7.1M |
|
USD |
Gasoline Inventories |
-1.5M |
-1.4M |
-3.5M |
|
Apr. 05 |
CNY |
Chinese HSBC Services PMI |
53.30 |
53.90 |
Economic Events scheduled for April 6, 2012 that affect the NZD, AUD, and JPY
There are no local or regional reports due on April 6, 2012 and most markets are closed
13:30 USD Average Hourly Earnings (MoM)
13:30 USD Private Nonfarm Payrolls
Average Hourly Earnings measures the change in the price businesses pay for labor, not including the agricultural sector. Private Nonfarm Payrolls measures the change in the number of total number of paid U.S. workers of any business, excluding general government employees, private household employees, employees of nonprofit organizations that provide assistance to individuals and farm employees.
13:30 USD Nonfarm Payrolls
13:30 USD Unemployment Rate
Nonfarm Payrolls measures the change in the number of people employed during the previous month, excluding the farming industry. Job creation is the foremost indicator of consumer spending, which accounts for the majority of economic activity. The Unemployment Rate measures the percentage of the total work force that is unemployed and actively seeking employment during the previous month.
There are no government bond auctions scheduled for Friday April 6, 2012
Originally posted here
