By FXEmpire.com
Analysis and Recommendation:
The NZD/USD is trading at 0.7524 towards the end of the Asian session on Monday.
The New Zealand dollar is a risky assets and a carry asset. In an period where safe haven bond yields are hitting record lows and there is not much yield around, the fact the market is selling off high yielding assets like the kiwi tells you much about market sentiment and fear levels.
Not only are markets worried about the kiwi, they are also worried about the euro and the future of the eurozone. Compound this with the “spring stall” becoming evident in the US. China’s slowdown continues and it does not seem government intervention can really assist. If there is no one to sell to because global retail sales and manufacturing are falling, China is bound to suffer as long as the rest of the world is in crisis.
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 DATE, 2012 actual v. forecast
|
Date |
Currency |
Event |
Actual |
Forecast |
Previous |
|
Jun. 04 |
JPY |
Monetary Base (YoY) |
2.4% |
0.2% |
-0.3% |
|
AUD |
MI Inflation Gauge (MoM) |
0.0% |
0.3% |
||
|
AUD |
Company Gross Profits (QoQ) |
-4.0% |
-2.0% |
-6.5% |
|
|
AUD |
ANZ Job Advertisements (MoM) |
-2.40% |
-0.80% |
Upcoming Economic Events that affect the AUD, NZD, JPY and USD
|
Date |
Time |
Currency |
Forecast |
Previous |
|
Jun 5 |
1:30 |
AUD |
Current Account |
-8.4B |
|
4:30 |
AUD |
Cash Rate |
3.75% |
3.75% |
|
4:30 |
AUD |
RBA Rate Statement |
||
|
14:00 |
USD |
ISM Non-Manufacturing PMI |
53.5 |
|
|
Jun 6 |
1:30 |
AUD |
GDP q/q |
0.4% |
|
12:30 |
USD |
Revised Nonfarm Productivity q/q |
-0.5% |
|
|
14:30 |
USD |
Crude Oil Inventories |
||
|
18:00 |
USD |
Beige Book |
||
|
Jun 7 |
1:30 |
AUD |
Employment Change |
4.9% |
|
1:30 |
AUD |
Unemployment Rate |
15.5K |
|
|
12:30 |
USD |
Unemployment Claims |
383K |
|
|
14:00 |
USD |
Fed Chairman Bernanke Testifies |
||
|
23:50 |
JPY |
Current Account |
0.79T |
|
|
23:50 |
JPY |
Final GDP q/q |
1.0% |
|
|
Jun 8 |
1:30 |
AUD |
Trade Balance |
-1.59B |
|
1:30 |
AUD |
Home Loans m/m |
0.3% |
|
|
12:30 |
USD |
Trade Balance |
-51.8B |
|
|
14:00 |
USD |
Fed Chairman Bernanke Testifies |
Government Bond Auctions
Date Time Country
Jun 05 00:30 Japan
Jun 05 09:30 Belgium
Jun 05 14:30 Sweden
Jun 06 09:30 Germany
Jun 06 09:30 Portugal
Jun 06 14:30 UK
Jun 07 00:30 Japan
Jun 07 08:30 Spain
Jun 07 08:50 France
Jun 07 09:10 Sweden
Jun 07 15:00 US
Jun 08 10:00 Belgium
Jun 08 15:30 Italy
Click here for further NZD/USD Forecast.
Originally posted here
