NZD/USD Fundamental Analysis March 19, 2012, Forecast
Analysis and Recommendation: (close of the Asian session)
NZD/USD is trading at 0.8200 after opening at 0.8192. The kiwi picked up against the USD as investors move to more risky assets. The USD fell against most of its trading partners, after several positive economic reports, supported the economic recovery in the US, giving investor the confidence to seek more risk.
The NZD started on a steady upward path, underpinned by solid global risk appetite.
There is not much in the way of economic news due in Asian or the US that will affect the pair in the beginning of the week. The kiwi will most likely continue to trade in a tight range, until mid week.
Released Economic Reports for March 15, 2012 actual v. forecast
|
Currency |
Event |
Actual |
Forecast |
Previous |
|
CHF |
Interest Rate Decision |
0.00% |
0.00% |
0.00% |
|
EUR |
ECB Monthly Report |
|||
|
EUR |
Employment Change (QoQ) |
-0.2% |
-0.2% |
-0.2% |
|
USD |
Core PPI (MoM) |
0.2% |
0.2% |
0.4% |
|
USD |
PPI (MoM) |
0.4% |
0.5% |
0.1% |
|
USD |
Initial Jobless Claims |
351K |
356K |
365K |
|
USD |
NY Empire State Manufacturing Index |
20.2 |
17.4 |
19.5 |
|
USD |
Continuing Jobless Claims |
3343K |
3405K |
3424K |
|
USD |
TIC Net Long-Term Transactions |
101.0B |
29.3B |
19.1B |
|
USD |
Philadelphia Fed Manufacturing Index |
12.5 |
11.4 |
10.2 |
Economic Events for March 19, 2012
02:00 AUD RBA Governor Stevens Speaks
Reserve Bank of Australia (RBA) Governor Glenn Stevens (September 2006 – September 2013) is to speak. As the head of the RBA, which sets short term interest rates, he has a major influence over the value of the Australian dollar. Traders watch his speeches closely as they are often used to drop subtle hints regarding future monetary policy and interest rate shifts.
Government Bond Auctions (this week)
Mar 19 n/a Greece CDS Auction
Mar 19 10:10 Slovakia Bond auction
Mar 19 10:10 Norway T-bill auction
Mar 20 09:30 Spain 12 & 18M T-bill auction
Mar 21 10:10 Sweden Nominal bond auction
Mar 21 10:30 Germany Eur 5.0bn Mar 2014 Schatz
Mar 21 10:30 Portugal Eur 0.75-1.0bn 4 & 6M T-bills
Mar 22 10:10 Sweden I/L bond auction
Mar 22 10.30 UK Auctions 0.625% 2042 I/L Gilt
Mar 22 15:00 US
Announces auctions of 2Y Notes on Mar 27, 5Y Notes on Mar
28 & 7Y Notes on Mar 29
Mar 22 17:00 US Auctions 10Y TIPS
Mar 23 10:10 Sweden I/L bond exchange auction
Mar 23 16:30 Italy Details CTZ/BTPei on Mar 27 & BOT on Mar 28
Originally posted here
