By FXEmpire.com

Analysis and Recommendation:

The NZD/USD is trading at 0.7988 adding 0.11% in Tuesday Asian trading. On a day void of eco data and low on news flow the pair have been at the whim of the US. The greenback has declined against most commodity currencies since the US released disappointing retail sales data.

Although the drop in retail sales, which also signals a drop in consumer confidence, became ammunition to push the Fed’s into injecting additional stimulus.

Also after comments by the Premier of China, markets are expecting some action from the PBoC, this week when the conclude their 2 day meeting.

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 Releases for Monday, July 16, 2012 actual v. forecast (there is no major Asian eco data for July 17, 2012)

Date

Currency

Event

Actual

Forecast

Previous

Jul. 16

GBP

Rightmove House Price Index (MoM)

-1.7%

1.0%

EUR

CPI (YoY)

2.4%

2.4%

2.4%

EUR

Core CPI (YoY)

1.6%

1.6%

1.6%

USD

Core Retail Sales (MoM)

-0.4%

0.1%

-0.4%

CAD

Foreign Securities Purchases

26.11B

13.50B

10.16B

USD

Retail Sales (MoM)

-0.5%

0.2%

-0.2%

USD

NY Empire State Manufacturing Index

7.4

4.0

2.3

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

Date

Time

Currency

Event

Previous

Jul 18

0:30

AUD

MI Leading Index m/m

0.5%

12:30

USD

Building Permits

0.78M

12:30

USD

Housing Starts

0.71M

14:30

USD

Crude Oil Inventories

-4.7M

Jul 19

1:30

AUD

NAB Quarterly Business Confidence

-1

12:30

USD

Unemployment Claims

14:00

USD

Existing Home Sales

4.55M

14:00

USD

Philly Fed Manufacturing Index

-16.6

Jul 20

1:30

AUD

Import Prices q/q

-1.2%

Click here to read NZD/USD Technical Analysis.

Originally posted here