By FXEmpire.com
Analysis and Recommendation:
The NZD/USD has been the benefactors of a weak USD, adding 0.0015 in today’s session to trade at 0.8052. With US markets closed for the holiday there will be little action elsewhere. This morning saw a release from China on more negative implications on the Chinese economy which is a negative for the kiwi.
As markets though move from risk aversion, the kiwi and other commodity currencies as well as commodities continue to gain.
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 Jul 3 – 4, 2012 actual v. forecast
|
Date |
Currency |
Event |
Actual |
Forecast |
Previous |
|
Jul 3 |
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% |
|
|
USD |
Factory Orders m/m |
0.7% |
0.1% |
-0.7% |
|
|
AUD |
AIG Services Index |
48.8 |
43.5 |
||
|
Jul 4 |
AUD |
Retail Sales m/m |
0.5% |
0.3% |
0.1% |
Upcoming Economic Events that affect the AUD, NZD, JPY and USD
|
Date |
Time |
Currency |
Event |
Forecast |
Previous |
|
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
