By FXEmpire.com
Analysis and Recommendation: (close of the Asian session)
The NZD/USD is trading at 79.44. The kiwi will have to wait until Fridays data from China, to get any support, hopefully some good news will help support the NZD.
The kiwi dollar rose against the euro as investors digested the implications of leadership changes in France and Greece which may herald less support for Europe’s austerity measures.
The New Zealand dollar rose to 61.82 euro cents from 61.06 cents yesterday. The kiwi rose to 79.44 having earlier reached its lowest level since Jan. 13 at 79.09, and was up from 79.20 yesterday. The trade weighted index decreased to 70.99 from 71.03.
Economic Reports for May 7-8, 2012 actual v. forecast
|
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% |
|
|
CHF |
Unemployment Rate |
3.1% |
3.1% |
3.0% |
|
|
CHF |
CPI (MoM) |
0.1% |
0.2% |
0.6% |
|
|
EUR |
German Factory Orders (MoM) |
2.2% |
0.5% |
0.6% |
|
|
Building Permits (MoM) |
4.7% |
-1.5% |
7.6% |
||
|
May 08 |
GBP |
RICS House Price Balance |
-19% |
-10% |
-10% |
|
AUD |
Trade Balance |
-1.59B |
-1.40B |
-0.75B |
Upcoming Economic Events that affect the AUD, NZD, JPY and CNY
|
May 08 |
02:30 |
AUD |
Trade Balance |
-1.59B |
-1.40B |
-0.75B |
|
16:45 |
USD |
FOMC Member Fisher Speaks |
||||
|
May 10 |
02:30 |
AUD |
Employment Change |
-5.5K |
44.0K |
|
|
02:30 |
AUD |
Unemployment Rate |
5.3% |
5.2% |
||
|
Tentative |
CNY |
Chinese Trade Balance |
7.93B |
5.35B |
||
|
13:30 |
USD |
Import Price Index (MoM) |
-0.2% |
1.3% |
||
|
13:30 |
USD |
Trade Balance |
-50.0B |
-46.0B |
||
|
13:30 |
USD |
Initial Jobless Claims |
369K |
365K |
||
|
13:30 |
USD |
Continuing Jobless Claims |
3278K |
3276K |
||
|
14:30 |
USD |
Fed Chairman Bernanke Speaks |
||||
|
19:00 |
USD |
Federal Budget Balance |
30.0B |
-198.2B |
||
|
May 11 |
02:30 |
CNY |
Chinese PPI (YoY) |
-0.3% |
||
|
02:30 |
CNY |
Chinese CPI (MoM) |
0.2% |
|||
|
06:30 |
CNY |
Chinese Fixed Asset Investment (YoY) |
20.9% |
|||
|
06:30 |
CNY |
Chinese Industrial Production (YoY) |
11.9% |
|||
|
06:30 |
CNY |
Chinese Retail Sales (YoY) |
15.2% |
|||
|
13:30 |
USD |
Core PPI (MoM) |
0.3% |
|||
|
13:30 |
USD |
PPI (MoM) |
0.0% |
|||
|
14:55 |
USD |
Michigan Consumer Sentiment |
76.4 |
Government Bond Auctions (this week)
Date Time Country
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
Click here to read NZD/USD Technical Analysis.
Originally posted here
