By FXEmpire.com
Analysis and Recommendation: (close of the Asian session)
The NZD/USD has been steadily building strength, even in this risk aversion theme market place. Ever since May 24th and the release of the new budget, the NZD has been trending upwards. The pair are trading at 0.7619 as markets in Asia are closing.
Strong words from China and its promise to do whatever it can in the form of economic stimulus to help upstart their markets has supported the kiwi, which is dependent on imports and exports to China.
Also the drop in crude oil prices will help ease the burden on the economy.
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 29, 2012 actual v. forecast
|
Date |
Currency |
Event |
Actual |
Forecast |
Previous |
|
May 29 |
JPY |
Unemployment Rate |
4.6% |
4.5% |
4.5% |
|
JPY |
Retail Sales (YoY) |
5.8% |
6.3% |
10.3% |
|
|
AUD |
HIA New Home Sales (MoM) |
6.9% |
-9.4% |
Upcoming Economic Events that affect the AUD, NZD, JPY and USD
|
Date |
Time |
Currency |
Previous |
|
|
May 30 |
1:30 |
AUD |
Retail Sales m/m |
0.9% |
|
1:30 |
AUD |
Construction Work Done q/q |
-4.6% |
|
|
14:00 |
USD |
Pending Home Sales m/m |
4.1% |
|
|
23:50 |
JPY |
Prelim Industrial Production m/m |
1.3% |
|
|
May 31 |
1:00 |
NZD |
NBNZ Business Confidence |
35.8 |
|
1:30 |
AUD |
Building Approvals m/m |
7.4% |
|
|
1:30 |
AUD |
Private Capital Expenditure q/q |
-0.3% |
|
|
1:30 |
AUD |
Private Sector Credit m/m |
0.4% |
|
|
1:30 |
JPY |
Average Cash Earnings y/y |
1.3% |
|
|
12:15 |
USD |
ADP Non-Farm Employment Change |
119K |
|
|
12:30 |
USD |
Prelim GDP q/q |
2.2% |
|
|
12:30 |
USD |
Unemployment Claims |
370K |
|
|
13:45 |
USD |
Chicago PMI |
56.2 |
|
|
15:00 |
USD |
Crude Oil Inventories |
0.9M |
|
|
23:50 |
JPY |
Capital Spending q/y |
7.6% |
|
|
Jun 1 |
12:30 |
USD |
Non-Farm Employment Change |
115K |
|
12:30 |
USD |
Unemployment Rate |
8.1% |
|
|
12:30 |
USD |
Core PCE Price Index m/m |
0.2% |
|
|
12:30 |
USD |
Personal Spending m/m |
0.3% |
|
|
14:00 |
USD |
ISM Manufacturing PMI |
54.8 |
Click here for further NZD/USD Forecast.
Originally posted here
