By FXEmpire.com
Analysis and Recommendation: (close of the Asian session)
The NZD/USD is trading at 0.7847 as the kiwi remains weak against the safe haven USD. Commodity and commodity currencies are suffering as the markets have turned to total risk aversion in the recent days as political events in Europe stress the markets.
The kiwi dollar dropped to a four-month low and may extend its decline amid concern the commitment of new euro zone governments such as in Greece and France to austerity measures may waiver, undermining the region’s economy.
The NZD fell to 0.7875 from 0.7979 yesterday. Earlier it touched 0.7861, the lowest since Jan. 9. A Bank of New Zealand strategist said the currency could fall to 75 cents in the next few weeks.
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, which cover the current week and are published by Sunday before the new week begins. Daily as the markets close we share any new events, forecasts or analysis that affect the current day. To achieve a full accurate understanding it is important that you study all of our data and analysis as a whole. Please click on the links to find the most recent reports for this asset
Economic Data for May 10-11, 2012 actual v. forecast
|
EUR |
Dutch CPI (YoY) |
2.40% |
2.40% |
2.50% |
|
|
GBP |
Industrial Production (MoM) |
-0.3% |
-0.3% |
0.4% |
|
|
GBP |
Manufacturing Production (MoM) |
0.9% |
0.5% |
-1.1% |
|
|
GBP |
Industrial Production (YoY) |
-2.6% |
-2.6% |
-2.3% |
|
|
GBP |
Interest Rate Decision |
0.50% |
0.50% |
0.50% |
|
|
GBP |
BOE QE Total |
325B |
325B |
325B |
|
|
USD |
Import Price Index (MoM) |
-0.5% |
-0.2% |
1.5% |
|
|
Trade Balance |
0.4B |
1.0B |
0.3B |
||
|
USD |
Trade Balance |
-51.8B |
-50.0B |
-45.4B |
|
|
USD |
Initial Jobless Claims |
367K |
369K |
368K |
|
|
USD |
Continuing Jobless Claims |
3229K |
3278K |
3290K |
|
|
GBP |
NIESR GDP Estimate |
0.1% |
-0.2% |
||
|
USD |
Federal Budget Balance |
59.1B |
30.0B |
-198.2B |
|
|
May 11 |
GBP |
Nationwide Consumer Confidence |
44 |
52 |
53 |
|
CNY |
Chinese CPI (YoY) |
3.4% |
3.3% |
3.6% |
|
|
CNY |
Chinese PPI (YoY) |
-0.7% |
-0.5% |
-0.3% |
|
|
CNY |
Chinese CPI (MoM) |
-0.1% |
-0.2% |
0.2% |
Upcoming Economic Events that affect the AUD, NZD, JPY, CNY and USD
|
May 14 |
02:30 |
AUD |
Home Loans (MoM) |
-2.5% |
|
|
May 16 |
01:30 |
AUD |
Westpac Consumer Sentiment |
-1.60% |
|
|
02:30 |
AUD |
Wage Price Index (QoQ) |
1.0% |
||
|
23:45 |
NZD |
PPI Input (QoQ) |
0.5% |
||
|
May 17 |
00:50 |
JPY |
GDP (QoQ) |
0.9% |
-0.2% |
|
05:30 |
JPY |
Industrial Production (MoM) |
1.0% |
Government Bond Auctions (this week)
Date Time Country
May 14 08:30 Spain
May 14 09:10 Italy
May 14 09:10 Slovakia
May 14 09:10 Norway
May 14 09:30 Germany
May 14 10:00 Norway
May 15 09:30 Belgium
May 15 09:30 UK
May 16 08:50 France
May 16 09:10 Sweden
May 16 09:30 Germany
May 16 09:50 France
May 16 14:30 Sweden
May 17 08:30 Spain
May 17 15:00 US
May 17 17:00 US
Originally posted here
