By FXEmpire.com

Analysis and Recommendation:

The NZD/USD is trading at 0.8100 following the AUD to set new recent highs. The NZD has been trading on a positive note, as investors are hoping for a fresh round of stimulus in the US this week along with additional support from the ECB later in the week. Along with a boost in business confidence reported in New Zealand this morning.

Commodity currencies are all trading strongly as the USD has weakened on the possibility of stimulus in the US and as risk aversion remains an overall theme, traders are finding safety in commodity currencies.

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 recent analysis and information in our weekly reports and we provide dailyupdates and outlooks.

Economic Data July 31, 2012 actual v. forecast

Date

Time

Currency

Importance

Event

Actual

Forecast

Previous

00:00

KRW

South Korean Industrial Production (MoM)

-0.4%

-0.1%

1.3%

00:15

JPY

Manufacturing PMI

47.9

49.9

00:30

JPY

Unemployment Rate

4.3%

4.4%

4.4%

00:30

JPY

Household Spending (YoY)

1.6%

2.9%

4.0%

01:30

TWD

Taiwanese GDP (YoY)

-0.16%

0.50%

0.39%

02:30

JPY

Average Cash Earnings (YoY)

0.6%

0.1%

-1.1%

02:30

AUD

Building Approvals (MoM)

-2.5%

-14.2%

27.0%

02:30

AUD

Private Sector Credit (MoM)

0.3%

0.4%

0.5%

03:00

SGD

Singaporean Unemployment Rate

2.0%

2.1%

03:00

SGD

Singaporean Bank Landing (MoM)

452.57B

445.00B

04:00

NZD

Business Confidence

15.10

12.60

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

Date

Time

Currency

Event

Previous

Aug 1

1:30

AUD

HPI q/q

-1.1%

12:15

USD

ADP Non-Farm Employment Change

176K

14:00

USD

ISM Manufacturing PMI

49.7

18:15

USD

FOMC Statement

Aug 2

1:30

AUD

Retail Sales m/m

0.5%

1:30

AUD

Trade Balance

-0.29B

12:30

USD

Unemployment Claims

14:00

USD

Factory Orders m/m

0.7%

23:30

AUD

AIG Services Index

48.8

Aug 3

12:30

USD

Non-Farm Employment Change

80K

12:30

USD

Unemployment Rate

8.2%

12:30

USD

Average Hourly Earnings m/m

0.3%

14:00

USD

ISM Non-Manufacturing PMI

52.1

Click here a current NZD/USD Chart.

Originally posted here