By FXEmpire.com
Analysis and Recommendation
The NZD/USD is trading up at 0.7588. The New Zealand dollar rose after the Group of Seven leaders agreed to discuss Europe’s debt crisis, easing concern that more banks will need rescuing in the face of the region’s debt crisis. The kiwi rose to 0.7570 at 8am from 0.75013 in late Asian trading yesterday, when the local market was closed for the Queen’s Birthday holiday.
The RBA this morning cut key lending rates to 3.5% from 3.75%. This should also spark some interest in the kiwi.
Euro leaders have also agreed to discuss closer banking cooperation after the European Commission called for a “banking union” to integrate tighter supervision of lenders and create a pool of EU funds to clean up banks with cross-border exposure.
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 4 – 5, 2012 actual v. forecast
|
Date |
Currency |
Event |
Actual |
Forecast |
Previous |
|
EUR |
Sentix Investor Confidence |
-28.9 |
-29.1 |
-24.5 |
|
|
USD |
Factory Orders m/m |
-0.6% |
0.3% |
-2.1% |
|
|
AUD |
AIG Services Index |
43.5 |
39.6 |
||
|
Jun 5 |
AUD |
Current Account |
-14.9B |
-14.1B |
-9.6B |
|
AUD |
Cash Rate |
3.50% |
3.50% |
3.75% |
Upcoming Economic Events that affect the AUD, NZD, JPY and USD
|
Date |
Time |
Currency |
Event |
Previous |
|
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 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 updated NZD/USD News.
Originally posted here
