By FXEmpire.com

Analysis and Recommendation: (close of the Asian session)

The NZD/USD is trading at the end of the Asian session at 0.7669. The kiwi rallied almost 1 cent as investors digested the Group of Eight leaders’ pledge to support growth policies in the Eurozone.

The NZD rebounded from a 5-1/2-month low as markets responded to news leaders from the eight largest industrial economies are pushing for Greece to stay in the euro, despite no concrete decisions to support the indebted nation.

More info is expected to emerge at this Wednesday when European Union leaders meet in Brussels ahead of next month’s summit.

Yesterday was a quiet news day through Europe, allowing investors to see a bit of calm.

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 for May 21- 22, 2012 actual v. forecast

May 21

GBP

Rightmove House Price Index

0.0%

2.9%

CHF

SECO Consumer Climate

-8

-15

-19

May 22

NZD

Inflation Expectations (QoQ)

2.4%

2.5%

Upcoming Economic Events that affect the AUD, NZD, JPY and USD

May 23

0:00

AUD

CB Leading Index m/m

0.0%

0:30

AUD

MI Leading Index m/m

0.2%

TBD

JPY

Monetary Policy Statement

TBD

JPY

Overnight Call Rate

TBD

JPY

BOJ Press Conference

14:00

USD

New Home Sales

328K

14:30

USD

Crude Oil Inventories

22:45

NZD

Trade Balance

134M

May 24

2:00

NZD

Annual Budget Release

5:00

JPY

BOJ Monthly Report

12:30

USD

Core Durable Goods Orders m/m

-0.8%

12:30

USD

Unemployment Claims

12:30

USD

Durable Goods Orders m/m

-4.0%

23:30

JPY

Tokyo Core CPI y/y

-0.5%

May 25

TBD

ALL

G8 Meetings

13:55

USD

Revised UoM Consumer Sentiment

Click here to read NZD/USD Technical Analysis.

Originally posted here