By FXEmpire.com

Analysis and Recommendation:

The NZD/USD is trading at 0.8130 adding 0.0027 in today’s session.

After the ECB dashed investors’ hopes of direction and plans for the current and ongoing EU crisis, as Draghi did less than nothing, markets reacted turning negative on all european assets. Markets returned to risk aversion mode with gold tumbling and the USD moving up but the strength was in the JPY.

The New Zealand dollar rose to a record high against the euro after European Central Bank president Mario Draghi provided investors with assurances but no immediate action to curb the region’s debt crisis.

The kiwi rose as high as 66.66 euro cents, the highest since the single currency entered circulation in 2002.

Commodity currencies were the benefactors in the yesterday’s market shifts.

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. 03

AUD

AIG Services Index

46.5

48.8

CNY

Chinese Non-Manufacturing PMI

55.60

56.70

CNY

Chinese HSBC Services PMI

53.10

52.30

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

Date

Time

Currency

Event

Forecast

Previous

Aug 6

1:30

AUD

ANZ Job Advertisements m/m

-1.2%

22:45

NZD

Labor Cost Index q/q

0.5%

Aug 7

4:30

AUD

Cash Rate

3.50%

3.50%

4:30

AUD

RBA Rate Statement

23:50

JPY

Current Account

0.28T

Aug 8

1:30

AUD

Home Loans m/m

-1.2%

12:30

USD

Prelim Nonfarm Productivity q/q

-0.9%

12:30

USD

Prelim Unit Labor Costs q/q

1.3%

14:30

USD

Crude Oil Inventories

22:45

NZD

Employment Change q/q

0.4%

22:45

NZD

Unemployment Rate

6.7%

23:50

JPY

Core Machinery Orders m/m

-14.8%

Aug 9

1:30

AUD

Employment Change

-27.0K

1:30

AUD

Unemployment Rate

5.2%

12:30

USD

Trade Balance

-48.7B

12:30

USD

Unemployment Claims

Aug 10

1:30

AUD

RBA Monetary Policy Statement

12:30

USD

Import Prices m/m

-2.7%

18:00

USD

Federal Budget Balance

-59.7B

Click here to read NZD/USD Technical Analysis.

Originally posted here