By FXEmpire.com
Analysis and Recommendation: (close of the Asian session)
The NZD/USD is down trading at 0.7608 barely remaining over the 76 price level. The USD strength is difficult for the pair to move past. The NZD was able to mount a small burst of strength to remain over the 76 level after building consents reported better than forecast. The USD has climbed to near record highs on the risk aversion theme of the markets. As investors turn away from anything euro, they are moving in droves to the USD and JPY, forcing the crosses to near records lows.
Risk aversion does not remain forever, but in the current markets, the EU situation has been going on for so long, many investors believe that the EU and the euro have reached the end of the road and without direction and plans, and immediate leadership, the EU will begin cracking.
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 – 30, 2012 actual v. forecast
|
Date |
Currency |
Event |
Actual |
Forecast |
Previous |
|
GBP |
CBI Distributive Trades Survey |
21 |
-7 |
-6 |
|
|
EUR |
German CPI (MoM) |
-0.2% |
-0.1% |
0.2% |
|
|
EUR |
German CPI (YoY) |
1.9% |
2.0% |
2.1% |
|
|
USD |
CB Consumer Confidence |
64.9 |
70.0 |
68.7 |
|
|
NZD |
Building Consents |
-7.2% |
-10.0% |
19.8% |
|
|
May 30 |
AUD |
Construction Work Done |
5.5% |
3.0% |
-3.4% |
|
AUD |
Retail Sales |
-0.2% |
0.2% |
1.1% |
Upcoming Economic Events that affect the AUD, NZD, JPY and USD
|
Date |
Time |
Currency |
Previous |
|
|
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
