NZD/USD Fundamental Analysis July 13, 2012, Forecast

By FXEmpire.com

Analysis and Recommendation:

The NZD/USD is trading at 0.7938 dipping a bit in this morning’s session. There was no eco data or news support for the kiwi, so the currency was at the whim of the USD. Markets are focused on the release of Chinese GDP. The kiwi is dependent on its trade with China and the negative eco data released earlier this week is weighing heavily on the NZD. The trade balance data showed a huge drop in imports.

Global markets remain depressed as the EU crisis continues to move forward with no clear path. The much talked about ESM is not subject to the German courts and the court has given no information as to when it will make a ruling or a decision.

The Bank of Japan ends its two day meetings today, with markets expecting everything to remain on hold but until the announcement is made no one is sure. Yesterdays release of the FOMC minutes still did not give a clear picture of what the Fed might do at its upcoming meeting

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Economic Data July 13, 2012 actual v. forecast

Date	Currency		Event		Actual		Forecast	Previous
Jul. 12		AUD		RBA Assist Gov Lowe Speaks
AUD		MI Inflation Expectations		3.3%		2.3%
KRW		South Korean Rate Decision		3.00%		3.25%	3.25%
AUD		Employment Change		-27.0K		0.3K	27.9K
AUD		Unemployment Rate		5.2%		5.2%	5.1%