By FXEmpire.com

Analysis and Recommendation:

The NZD/USD closed the week at 0.7827, as global commodity currencies weakened ahead of the Greek elections and also elections in France and Egypt. Investors continue to worry about the unknown, combined with disappointing data from the US where a poor jobs report saw the USD fall in recent lows. Risk aversion remains the theme, but movement was to gold and the JPY.

Greek politician Alexis Tsipras said he expects the European Union will do all it can to keep Greece in the euro even if his left-wing Syriza party wins the election and seeks to repeal austerity measures that are a condition of bailout funds.

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 June 14 -15, 2012 actual v. forecast

Date

Currency

Event

Actual

Forecast

Previous

CHF

Libor Rate

EUR

CPI y/y

2.4%

2.4%

2.4%

EUR

Core CPI y/y

1.6%

1.6%

1.6%

CAD

NHPI m/m

0.2%

0.4%

0.3%

USD

Core CPI m/m

0.2%

0.2%

0.2%

USD

Unemployment Claims

386K

377K

380K

USD

CPI m/m

-0.3%

-0.2%

0.0%

USD

Current Account

-137B

-132B

-119B

Jun 15

JPY

Overnight Call Rate

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

Date

Time

Currency

Event

Forecast

Previous

Jun 18

1:30

AUD

New Motor Vehicle Sales m/m

-0.7%

Day 1

ALL

G20 Meetings

Jun 19

1:30

AUD

Monetary Policy Meeting Minutes

12:30

USD

Building Permits

0.72M

12:30

USD

Housing Starts

0.72M

Day 2

ALL

G20 Meetings

22:45

NZD

Current Account

-2.76B

23:50

JPY

Monetary Policy Meeting Minutes

23:50

JPY

Trade Balance

-0.48T

Jun 20

0:00

AUD

CB Leading Index m/m

0.2%

0:30

AUD

MI Leading Index m/m

0.4%

14:30

USD

Crude Oil Inventories

-0.2M

16:30

USD

FOMC Statement

16:30

USD

Federal Funds Rate

18:00

USD

FOMC Economic Projections

18:15

USD

FOMC Press Conference

22:45

NZD

GDP q/q

0.3%

Jun 21

12:30

USD

Unemployment Claims

386K

13:00

USD

Flash Manufacturing PMI

54.0

14:00

USD

Existing Home Sales

4.62M

14:00

USD

Philly Fed Manufacturing Index

-5.8

Click here for further NZD/USD Forecast.

Originally posted here