By FXEmpire.com
Analysis and Recommendation: (close of the Asian session)
The NZD/USD follows the pattern of the commodity currencies, and closely in touch with the Aussie, declining to trade at 0.7662. The pair are at a 5 month low. The New Zealand dollar fell one US cent after Greek politicians called for new elections and dairy product prices declined for the third straight sale in Fonterra’s global auction.
Investors were temporarily upbeat after the Eurozone narrowly avoid a second recession as gross domestic product for the region showed zero growth in the first quarter.
The currency is not reacting to weak or strong economic news but is stuck in the middle of global sentiment and risk aversion giving strength to the USD.
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 May 15 – 16, 2012 actual v. forecast
|
EUR |
French CPI (MoM) |
0.1% |
0.3% |
0.8% |
|
|
EUR |
German GDP (QoQ) |
0.5% |
0.1% |
-0.2% |
|
|
EUR |
French Non-Farm Payrolls |
0.1% |
-0.2% |
-0.1% |
|
|
GBP |
Trade Balance |
-8.6B |
-8.4B |
-8.6B |
|
|
EUR |
GDP (QoQ) |
0.0% |
-0.2% |
-0.3% |
|
|
EUR |
German ZEW Economic |
10.8 |
19.0 |
23.4 |
|
|
EUR |
ZEW Economic Sentiment |
-2.4 |
11.7 |
13.1 |
|
|
USD |
Core CPI (MoM) |
0.2% |
0.2% |
0.2% |
|
|
USD |
Core Retail Sales (MoM) |
0.1% |
0.2% |
0.8% |
|
|
USD |
CPI (MoM) |
0.0% |
0.1% |
0.3% |
|
|
USD |
Retail Sales (MoM) |
0.1% |
0.2% |
0.7% |
|
|
USD |
NY Empire State |
17.1 |
8.5 |
6.6 |
|
|
USD |
TIC Net Long-Term |
36.2B |
19.4B |
10.1B |
|
|
May 16 |
JPY |
Tertiary Industry Activity I |
-0.6% |
-0.3% |
0.0% |
|
AUD |
Westpac Sentiment |
0.80% |
-1.60% |
||
|
AUD |
Wage Price Index (QoQ) |
0.9% |
0.8% |
1.0% |
Upcoming Economic Events that affect the AUD, NZD, JPY and USD
|
May 17 |
00:50 |
JPY |
GDP (QoQ) |
0.9% |
-0.2% |
|
00:50 |
JPY |
GDP Price Index (YoY) |
-1.4% |
-1.8% |
|
|
05:30 |
JPY |
Industrial Production (MoM) |
1.1% |
1.0% |
|
|
13:30 |
USD |
Initial Jobless Claims |
365K |
367K |
|
|
13:30 |
USD |
Continuing Jobless Claims |
3235K |
3229K |
|
|
15:00 |
USD |
Philadelphia Fed Manufacturing Index |
10.0 |
8.5 |
Originally posted here
