By FXEmpire.com
Introduction: The recent strength of the kiwi, a currency sometimes overlooked by traders, made its moves much more predictable. This applies to support and resistance lines alike. This is a very safe pair to trade, not a great deal of volatility but predictability.
Weekly Analysis and Recommendation:
The NZD/USD ended the week at 0.8189 reaching a recent high, after investors sought more risk and commodity currencies were the beneficiary. After the ECB disappointed markets on Thursday and the FOMC offered no stimulus earlier in the week the above forecast jobs data changed market attitudes as investors moved from the safety of the USD and the JPY.
With little in the way of eco data, the kiwi moved in response to the global markets.
|
Date |
Open |
High |
Change % |
||
|
Aug 03, 2012 |
0.8189 |
0.8092 |
0.8199 |
0.8087 |
1.20% |
|
Aug 02, 2012 |
0.8092 |
0.8097 |
0.8172 |
0.8071 |
-0.05% |
|
Aug 01, 2012 |
0.8096 |
0.8089 |
0.8143 |
0.8068 |
0.09% |
|
Jul 31, 2012 |
0.8089 |
0.8089 |
0.8122 |
0.8079 |
0.00% |
|
Jul 30, 2012 |
0.8089 |
0.8084 |
0.8100 |
0.8072 |
0.06% |
Negative data from China continues to weigh on its neighbors but the hopes of monetary stimulus from the PBoC and more government support for the economy, the better for New Zealand.
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 recent analysis and information in our weekly reports and we provide daily updates and outlooks.
Major Economic Events for the week of Aug 30 – Jul 3 actual v. forecast for Yen, the Aussie, the Kiwi and USD
|
Date |
Currency |
Event |
Actual |
Forecast |
Previous |
|
Jul 31 |
NZD |
NBNZ Business Confidence |
15.1 |
12.6 |
|
|
AUD |
Building Approvals m/m |
-2.5% |
-14.6% |
27.0% |
|
|
USD |
CB Consumer Confidence |
65.9 |
61.5 |
62.7 |
|
|
Aug 1 |
USD |
ADP Non-Farm Employment Change |
163K |
121K |
172K |
|
USD |
ISM Manufacturing PMI |
49.8 |
50.3 |
49.7 |
|
|
Aug 2 |
AUD |
Retail Sales m/m |
1.0% |
0.6% |
0.8% |
|
AUD |
Trade Balance |
0.01B |
-0.36B |
-0.31B |
|
|
USD |
Unemployment Claims |
365K |
375K |
357K |
|
|
Aug 3 |
USD |
Non-Farm Employment Change |
163K |
101K |
64K |
|
USD |
Unemployment Rate |
8.3% |
8.2% |
8.2% |
|
|
USD |
ISM Non-Manufacturing PMI |
52.6 |
52.1 |
52.1 |
Economic Highlights of the coming week that affect the AUD, JPY, NZD and USD
|
Date |
Time |
Currency |
Event |
Forecast |
Previous |
|
Aug 6 |
1:30 |
AUD |
ANZ Job Advertisements m/m |
-1.2% |
|
|
22:45 |
NZD |
Labor Cost Index q/q |
0.5% |
||
|
Aug 7 |
4:30 |
AUD |
Cash Rate |
3.50% |
3.50% |
|
4:30 |
AUD |
RBA Rate Statement |
|||
|
23:50 |
JPY |
Current Account |
0.28T |
||
|
Aug 8 |
1:30 |
AUD |
Home Loans m/m |
-1.2% |
|
|
12:30 |
USD |
Prelim Nonfarm Productivity q/q |
-0.9% |
||
|
12:30 |
USD |
Prelim Unit Labor Costs q/q |
1.3% |
||
|
14:30 |
USD |
Crude Oil Inventories |
|||
|
22:45 |
NZD |
Employment Change q/q |
0.4% |
||
|
22:45 |
NZD |
Unemployment Rate |
6.7% |
||
|
23:50 |
JPY |
Core Machinery Orders m/m |
-14.8% |
||
|
Aug 9 |
1:30 |
AUD |
Employment Change |
-27.0K |
|
|
1:30 |
AUD |
Unemployment Rate |
5.2% |
||
|
12:30 |
USD |
Trade Balance |
-48.7B |
||
|
12:30 |
USD |
Unemployment Claims |
|||
|
Aug 10 |
1:30 |
AUD |
RBA Monetary Policy Statement |
||
|
12:30 |
USD |
Import Prices m/m |
-2.7% |
||
|
18:00 |
USD |
Federal Budget Balance |
-59.7B |
Upcoming Government Bond Auctions
Date Time Country
Aug 06 09:10 Norway
Aug 07 00:30 Japan
Aug 07 09:15 Austria
Aug 07 14:30 UK
Aug 07 17:00 US
Aug 08 09:30 Germany
Aug 08 10:00 Norway
Aug 08 15:30 Italy
Aug 08 17:00 US
Aug 09 15:30 Italy
Aug 09 17:00 US
Aug 10 10:00 Belgium
Aug 13 09:10 Italy
Aug 13 09:10 Norway
Aug 13 09:30 Germany
Aug 14 09:10 Greece
Aug 14 09:10 Italy
Aug 14 09:30 Belgium
Aug 14 14:30 UK
Aug 15 09:10 Sweden
Aug 16 09:30 UK
Aug 16 15:00 US
Click here a current NZD/USD Chart.
Originally posted here
