By FXEmpire.com
Analysis and Recommendation:
The NZD/USD is trading in the morning session at 0.7938 dipping 58pips as the US dollar gathers momentum on negative news from the EU. Over the weekend, the Troika announced that they have terminated funding to Greece. One has to wonder, why Greece has stayed off the financial front pages for the last 10 days.
The kiwi rose to record high against the euro after ministers finally approved a EUR100 billion bailout for Spain’s banking sector.
The New Zealand dollar rose as a high as 65.98 euro cents, the most since the single currency entered circulation in 2002.
The move did little to ease concern about Europe’s woes, with Spanish Prime Minister Mariano Rajoy forecasting a second year of recession and Valencia becoming the first region to seek a rescue from the nation’s central government.
There is not eco data or political news expected from New Zealand today, so the pair will move with the US dollar.
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 23, 2012 actual v. forecast
|
Date |
Currency |
Event |
Actual |
Forecast |
Previous |
|
Jul. 23 |
TWD |
Taiwanese Unemployment Rate |
4.24% |
4.30% |
4.25% |
|
AUD |
PPI (QoQ) |
0.5% |
0.3% |
-0.3% |
Upcoming Economic Events that affect the AUD, NZD, JPY and USD
|
Date |
Time |
Currency |
Event |
Previous |
|
Jul 24 |
13:00 |
USD |
Flash Manufacturing PMI |
52.5 |
|
22:45 |
NZD |
Trade Balance |
301M |
|
|
23:50 |
JPY |
Trade Balance |
-0.66T |
|
|
Jul 25 |
0:00 |
AUD |
CB Leading Index m/m |
-1.4% |
|
1:30 |
AUD |
CPI q/q |
0.1% |
|
|
1:30 |
AUD |
Trimmed Mean CPI q/q |
0.3% |
|
|
14:00 |
USD |
New Home Sales |
369K |
|
|
14:30 |
USD |
Crude Oil Inventories |
||
|
21:00 |
NZD |
Official Cash Rate |
2.50% |
|
|
21:00 |
NZD |
RBNZ Rate Statement |
||
|
Jul 26 |
0:10 |
JPY |
BOJ Gov Shirakawa Speaks |
|
|
12:30 |
USD |
Core Durable Goods Orders m/m |
0.7% |
|
|
12:30 |
USD |
Unemployment Claims |
||
|
14:00 |
USD |
Pending Home Sales m/m |
5.9% |
|
|
23:30 |
JPY |
Tokyo Core CPI y/y |
-0.6% |
|
|
23:50 |
JPY |
Retail Sales y/y |
3.6% |
|
|
Jul 27 |
12:30 |
USD |
Advance GDP q/q |
1.9% |
|
13:55 |
USD |
Revised UoM Consumer Sentiment |
72.0 |
Click here a current NZD/USD Chart.
Originally posted here
