By FXEmpire.com
Analysis and Recommendation:
The NZD/USD is trading at .7965 towards the end of the Asian session. The NZ dipped a bit in today’s trading after markets began to worry about statements from the Chinese Premier, indicating that China might still fall short of its growth targets.
Although the thought of monetary stimulus from the PBoC is positive for the local regional area, the stress over a larger than expected slowdown, has traders worried.
Yesterday, Fed Chairman Bernanke disappointed traders, keeping to his June statements, that the Fed would and could act if the economy warrants it, but giving no other indication of the actions considered by the Fed.
There is little in the way of eco data around the globe today, so markets will be subject to news flow, with Spain and Italy moving back to the center stage.
Markets will also be waiting for the minutes to the Bank of England’s latest policy meeting, where the board voted for a 50 billion pound expansion to its quantitative easing programme.
Weaker dairy prices at Fonterra Cooperative Group’s Global Dairy Trade auction also weighed on demand for the kiwi dollar, as trade-weighted prices fell 0.9%, led by a 6.4% decline in whole milk powder. As a good deal of NZ exports are dairy related products.
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 19, 2012 actual v. forecast
|
Date |
Currency |
Event |
Actual |
Forecast |
Previous |
|
Jul. 18 |
JPY |
Monetary Policy Meeting Minutes |
|||
|
AUD |
MI Leading Index (MoM) |
0.8% |
0.5% |
Upcoming Economic Events that affect the AUD, NZD, JPY and USD
|
Date |
Time |
Currency |
Event |
Previous |
|
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 a current NZD/USD Chart.
Originally posted here
