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