By FXEmpire.com
Analysis and Recommendation: (close of the Asian session)
The NZD/USD is slightly up in the Asian session, trading at 0.7936. The kiwi fell in last week’s session on news of higher unemployment and some minor other troubling eco data from the NZ country.
The Governor of the RNZ said that the kiwi was trading too high.
New Zealand also depends on their exports to their neighbors, in recent months New Zealand’s exports have declined along with other business between these neighboring countries.
Exports account for a high 24 percent of its output, making New Zealand vulnerable to international commodity prices and global economic slowdowns. Its principal export industries are agriculture, horticulture, fishing, forestry and mining, which make up about half of the country’s exports.
The April 26th statement from the Reserve Bank of New Zealand summed it all up nicely.
Reserve Bank Governor Alan Bollard said: “Inflation is restrained and is expected to stay near the middle of the Bank’s target range.
“However, the global outlook remains of concern. Near-term indicators have moderated and financial market sentiment is still fragile.
|
AUD |
AIG Construction Index |
34.9 |
36.2 |
|
|
JPY |
Monetary Policy Meeting Minutes |
|||
|
TWD |
Taiwanese CPI (YoY) |
1.44% |
1.40% |
1.25% |
|
AUD |
Building Approvals (MoM) |
7.4% |
3.1% |
-8.8% |
|
AUD |
NAB Business Confidence |
4 |
3 |
|
|
AUD |
Retail Sales (MoM) |
0.9% |
0.2% |
0.3% |
|
AUD |
ANZ Job Advertisements (MoM) |
-3.10% |
0.70% |
|
|
IDR |
Indonesian GDP (YoY) |
6.3% |
6.3% |
6.5% |
|
CHF |
Unemployment Rate |
3.1% |
3.1% |
3.1% |
Economic Events for May 8, 2012
00:01 GBP RICS House Price Balance -10% -10%
02:30 AUD Trade Balance -1.40B -0.48B
06:45 CHF GDP 0.1%
06:45 CHF SECO Consumer Climate -18 -19
13:15 CAD Housing Starts 202K 216K
Government Bond Auctions (this week)
Date Time Country
May 08 09:15 Austria
May 08 09:30 Belgium
May 08 14:30 UK
May 08 15:30 Italy
May 08 17:00 US
May 09 09:10 Sweden
May 09 09:30 Germany
May 09 09:30 Swiss
May 09 09:30 UK
May 09 14:30 Sweden
May 09 15:30 Italy
May 09 17:00 US
May 10 15:00 US
May 10 17:00 US
May 11 09:10 Italy BOT auction
May 11 10:00 Belgium
Originally posted here
