By FXEmpire.com
Analysis and Recommendation: (close of the Asian session)
The NZD/USD is trading at 0.7784 down a bit in this morning’s session. The kiwi dollar fell to a five-month low as Greek politicians struggled to form a new government, heightening speculation the nation may leave the euro region and sapping investors risk appetite. The USD continues to trade strong against all its trading partners except the yen. Commodity currencies are performing the worst against the USD. The kiwi fell as low as 0.775overnight, the lowest the currency has fallen since December 26
The trade weighted index decreased to 70.19 from 70.40.
Greece’s political stalemate has entered its second week, fueling fears the nation will renege on pledges to cut spending under the two bailouts negotiated since May 2010. Any new government needs to stick to the terms to receive the funds required to avoid bankruptcy or risk leaving the euro. So far Greece’s three main political parties have been unable to reach a coalition agreement.
The problems in Europe do not directly affect the kiwi, but the strength of the greenback is the overall problem.
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.
Economic Data May 14 – 15, 2012 actual v. forecast
EUR |
Finnish CPI (YoY) |
3.10% |
2.90% |
||
CHF |
PPI (MoM) |
-0.1% |
0.3% |
0.3% |
|
EUR |
Dutch Retail Sales (YoY) |
2.20% |
1.10% |
||
EUR |
Industrial Production (MoM) |
-0.3% |
0.4% |
0.8% |
|
EUR |
Italian 10-Year BTP Auction |
5.66% |
5.84% |
||
May 15 |
EUR |
French CPI (MoM) |
0.1% |
0.3% |
0.8% |
EUR |
French GDP (QoQ) |
0.0% |
-0.1% |
0.1% |
Upcoming Economic Events that affect the AUD, NZD, JPY and USD
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% |
Click here for further NZD/USD Forecast.
Originally posted here