By FXEmpire.com
Analysis and Recommendation:
The NZD/USD is trading hands at 0.8086 regaining some momentum in this morning’s session. The kiwi fell against the USD after the FOMC took no action after their two day meeting. Mr. Bernanke’s assessment of the US and global economy left markets with a negative viewpoint.
The kiwi was able to bounce back, as investors now await the ECB statement and decisions later today.
Last week, ECB President Draghi, pledged to save the monetary union and said that the ECB had the mandate and the power to do so, markets now await his plans of action.
Positive eco data out of Australia this morning also helped secure the NZD strength. With the Aussie’s showing a strong trade balance and exceptional retail sales, the region seems to be trading on a positive note.
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 August 2, 2012 actual v. forecast
|
Date |
Currency |
Event |
Actual |
Forecast |
Previous |
|
Aug. 02 |
JPY |
10-Year JGB Auction |
0.772% |
0.836% |
|
|
JPY |
Monetary Base (YoY) |
8.6% |
6.2% |
5.9% |
|
|
NZD |
ANZ Commodity Price Index (MoM) |
-0.5% |
-2.4% |
||
|
AUD |
Retail Sales (MoM) |
1.0% |
0.7% |
0.8% |
|
|
AUD |
Trade Balance |
0.01B |
-0.35B |
-0.31B |
Upcoming Economic Events that affect the AUD, NZD, JPY and USD
|
Date |
Time |
Currency |
Event |
Previous |
|
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 |
Government Bond Auctions
Date Time Country
Aug 06 09:10 Norway
Aug 07 00:30 Japan
Aug 07 09:15 Austria
Aug 07 14:30 UK
Aug 07 17:00 US
Aug 08 09:30 Germany
Aug 08 10:00 Norway
Aug 08 15:30 Italy
Aug 08 17:00 US
Aug 09 15:30 Italy
Aug 09 17:00 US
Aug 10 10:00 Belgium
Click here a current NZD/USD Chart.
Originally posted here
