By FXEmpire.com
Analysis and Recommendation:
The NZD/USD is trading at the end of the session at .08050 adding 0.0015 on the back of the weakened USD. Yesterday the US ISM Manufacturing data was released; this report has consistently remained positive for the past three years and the most recent release fell but also dipped under the all important 50 number. A report over 50 shows growth and a report under 50 shows contraction. The most recent data release was forecast at 52.1 and the actual was 49.7.
The US market will be closed on July 4th to celebrate the US Independence Day, and many traders will take a long holiday weekend, so we will see thinned volume and positioning trades ahead of the holiday. Thursday brings the ECB rate decision and Friday the US Nonfarm data.
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 2 – 3, 2012 actual v. forecast
|
Date |
Currency |
Event |
Actual |
Forecast |
Previous |
|
Jul 2 |
USD |
ISM Manufacturing PMI |
49.7 |
52.1 |
53.5 |
|
AUD |
Building Approvals m/m |
27.3% |
5.1% |
-7.6% |
|
|
JPY |
Average Cash Earnings y/y |
-0.8% |
0.6% |
0.2% |
|
|
AUD |
Cash Rate |
3.50% |
3.50% |
3.50% |
Upcoming Economic Events that affect the AUD, NZD, JPY and USD
|
Date |
Time |
Currency |
Event |
Forecast |
Previous |
|
Jul 4 |
1:30 |
AUD |
Retail sales |
0.3% |
-0.2% |
|
Jul 5 |
1:30 |
AUD |
Trade Balance |
-0.51B |
-0.20B |
|
12:15 |
USD |
ADP Non-Farm Employment Change |
101K |
133K |
|
|
12:30 |
USD |
Unemployment Claims |
385K |
386K |
|
|
14:00 |
USD |
ISM Non-Manufacturing PMI |
53.1 |
53.7 |
|
|
15:00 |
USD |
Crude Oil Inventories |
-0.1M |
||
|
Jul 6 |
12:30 |
USD |
Non-Farm Employment Change |
92K |
69K |
|
12:30 |
USD |
Unemployment Rate |
8.2% |
8.2% |
Click here for updated NZD/USD News.
Originally posted here
