By FX Empire.com
NZD/USD Fundamental Analysis February 8, 2012, Forecast
Economic Events: (GMT)
21:45 NZD Employment Change (QoQ) 0.4% 0.2%
21:45 NZD Unemployment Rate 6.5% 6.6%
The Unemployment Rate measures the percentage of the total work force that is unemployed and actively seeking employment during the previous quarter. This is reported with the employment change data.
A higher than expected reading should be taken as negative/bearish for the NZD, while a lower than expected reading should be taken as positive/bullish for the NZD.
Analysis and Recommendation: (Close of the Asian session )
NZD/USD is trading at 0.8359. The dollar strenght continued today as worried about Greece continue to mount. There is virtually no time left to continue negotiations. March 20th is dooms day for Greece and it will take several weeks for the legalities and the paperwork to be completed. The deal was supposed to have been completed by the deadline two weeks ago.
It seems that it is going to be almost impossible to save Greece from default at this time. The EU, the ECB and the IMF are not in the mood to offer any additional assistance.
Economic Data results prior trading
|
AUD |
Retail Sales (MoM) |
-0.1% |
0.2% |
0.1% |
|
EUR |
German Factory Orders (MoM) |
1.7% |
0.5% |
-4.9% |
|
Ivey PMI |
64.1 |
57.8 |
63.5 |
|
|
NZD |
Labor Cost Index (QoQ) |
0.7% |
0.5% |
0.5% |
Scheduled Sovereign Bond Sales
Feb 08 10:10 Sweden Nominal bond auction
Feb 08 10:30 Germany Eur 4.0bn Feb 2017 Bobl
Feb 08 10:30 Swiss Bond auction
Feb 08 16:30 Italy Details BOT auction on Feb 13
Feb 08 18:00 US Auctions 10Y Notes
Feb 09 10:10 Sweden Sek 0.75bn I/L bond auction
Feb 09 15:30 Sweden Details I/L bond auction on Mar 23
Feb 09 16:00 US Announces auctions of 30Y TIPS on Feb 16
Feb 09 16:30 Italy Details BTP/CCTeu auction on Feb 14
Feb 09 18:00 Italy Auctions 30Y Bonds
Feb 10 11:00 Belgium OLO auction
Originally posted here
