By FXEmpire.com
Analysis and Recommendation: (close of the Asian session)
The NZD/USD moved up in the Asian session, to trade at 0.7542, as the USD lost some momentum. Risk aversion remained the main tone of the markets. The OECD yesterday supported the new budget for New Zealand, giving credibility to Bill English’s program.
In the US yesterday, jobless data had lackluster results and durable goods, underwhelmed. With risk aversion in place and markets continuing to search out safe havens, the USD remained strong but this allowed some of the commodity currencies to enjoy a breather.
Equity markets also improved in yesterday’s session, giving some positive sentiment to early morning trading.
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 24-25 actual v. forecast
|
Date |
Currency |
Event |
Actual |
Forecast |
Previous |
|
EUR |
German GDP (QoQ) |
0.5% |
0.5% |
0.5% |
|
|
EUR |
French Manufacturing PMI |
44.4 |
47.0 |
46.9 |
|
|
EUR |
German Manufacturing PMI |
45.0 |
47.0 |
46.2 |
|
|
EUR |
German Ifo Business Climate Index |
106.9 |
109.4 |
109.9 |
|
|
EUR |
Manufacturing PMI |
45.0 |
46.1 |
45.9 |
|
|
EUR |
German Current Assessment |
113.3 |
117.4 |
117.5 |
|
|
EUR |
German Business Expectations |
100.9 |
102.0 |
102.7 |
|
|
GBP |
BBA Mortgage Approvals |
32.4K |
32.3K |
31.9K |
|
|
GBP |
Business Investment (QoQ) |
3.6% |
3.2% |
-3.3% |
|
|
GBP |
GDP (QoQ) |
-0.3% |
-0.2% |
-0.2% |
|
|
USD |
Durable Goods Orders (MoM) |
0.2% |
0.5% |
-3.7% |
|
|
USD |
Initial Jobless Claims |
370K |
370K |
372K |
|
|
USD |
Continuing Jobless Claims |
3260K |
3250K |
3289K |
|
|
May 25 |
JPY |
Tokyo Core CPI (YoY) |
-0.8% |
-0.6% |
-0.5% |
Upcoming Economic Events that affect the AUD, NZD, JPY and USD
|
Date |
Cur. |
Event |
Forecast |
Previous |
|
|
May 28 |
JPY |
Unemployment Rate |
4.5% |
4.5% |
|
|
JPY |
Retail Sales (YoY) |
6.3% |
10.3% |
||
Date Time Country
May 28- n/a UK
May 28 09:10 Italy
May 29 00:30 Japan
May 29 09:10 Italy
May 29 09:10 Norway
May 30 09:10 Italy
May 30 09:10 Sweden
Originally posted here
