By FXEmpire.com
Analysis and Recommendation:
The NZD/USD is trading at 0.7942. The New Zealand dollar has dipped back from a record-high versus the euro as markets prepared for European finance ministers to finalize the EU bank supervisor plan adopted at last month’s summit. At the end of the meeting last evening, the Eurogroup only announced that it had moved forward with immediate decision on Spain and that everything else was still ongoing.
The kiwi was largely unchanged at 79.66 US cents from 79.60 cents.
Market focus remains fixed on Brussels where eurozone treasurers are doing their best to shore up global confidence and find a solution to Spain’s banking crisis.
Early comments by European Central Bank president Mario Draghi have signaled policymakers may be open to another interest-rate cut if the economic outlook warrants it.
This morning another round of disappointing eco data from China, continues to show a slowdown with larger implications as their imports showed a significant drop.
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 up to the data analysis and information in our weekly reports.
Economic Data July 9-10, 2012 actual v. forecast
|
Date |
Currency |
Event |
Actual |
Forecast |
Previous |
|
Jul. 09 |
JPY |
Adjusted Current Account |
0.28T |
0.42T |
0.29T |
|
CNY |
Chinese CPI (YoY) |
2.2% |
2.3% |
3.0% |
|
|
CNY |
Chinese PPI (YoY) |
-2.1% |
-1.9% |
-1.4% |
|
|
CNY |
Chinese CPI (MoM) |
-0.6% |
-0.3% |
-0.3% |
|
|
CHF |
Unemployment Rate |
2.9% |
3.2% |
2.9% |
|
|
EUR |
ECB President Draghi Speaks |
||||
|
NZD |
NZIER Business Confidence |
-4 |
13 |
||
|
Jul. 10 |
GBP |
RICS House Price Balance |
-22% |
-16% |
-17% |
|
AUD |
NAB Business Confidence |
-3 |
-2 |
||
|
CNY |
Chinese Trade Balance |
31.73B |
21.00B |
18.70B |
Upcoming Economic Events that affect the AUD, NZD, JPY and USD
|
Date |
Time |
Currency |
Event |
Previous |
|
Jul 11 |
0:30 |
AUD |
0.3% |
|
|
1:30 |
AUD |
0.2% |
||
|
12:30 |
USD |
-50.1B |
||
|
14:30 |
USD |
-4.3M |
||
|
Jul 12 |
1:00 |
AUD |
2.3% |
|
|
1:30 |
AUD |
38.9K |
||
|
1:30 |
AUD |
5.1% |
||
|
12:30 |
USD |
|||
|
12:30 |
USD |
-1.0% |
||
|
18:00 |
USD |
-124.6B |
||
|
Jul 13 |
12:30 |
USD |
-1.0% |
|
|
13:55 |
USD |
73.2 |
Click here for updated NZD/USD News.
Originally posted here
