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 began the week at 0.7686 and was able to gain most of the week to close at 0.7880 capitalizing on weakness of the USD as well as statements from the RNZ supporting the economy.
|
Date |
Open |
High |
Change % |
||
|
Jun 15, 2012 |
0.7880 |
0.7827 |
0.7902 |
0.7814 |
0.68% |
|
Jun 14, 2012 |
0.7827 |
0.7768 |
0.7836 |
0.7750 |
0.76% |
|
Jun 13, 2012 |
0.7768 |
0.7769 |
0.7810 |
0.7721 |
-0.03% |
|
Jun 12, 2012 |
0.7770 |
0.7686 |
0.7788 |
0.7683 |
1.09% |
|
Jun 11, 2012 |
0.7686 |
0.7762 |
0.7778 |
0.7670 |
-1.00% |
Eco data from the kiwi country was a bit more positive. With the USD falling on poor eco numbers in jobs and manufacturing in the USD and the shift to gold the commodity currencies have been able to gain a bit of strength.
This coming week will be all about the Greek election, news flows and the G20 meetings.
Although there are several eco reports do in NZ this week that might prop up the kiwi.
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 June 11 – 15 actual v. forecast for Yen, the Aussie, the Kiwi and USD
|
Date |
Currency |
Event |
Actual |
Forecast |
Previous |
|
Jun 13 |
USD |
Core Retail Sales m/m |
-0.4% |
0.1% |
-0.3% |
|
USD |
PPI m/m |
-1.0% |
-0.6% |
-0.2% |
|
|
USD |
Retail Sales m/m |
-0.2% |
-0.1% |
-0.2% |
|
|
NZD |
Official Cash Rate |
2.50% |
2.50% |
2.50% |
|
|
Jun 14 |
USD |
Core CPI m/m |
0.2% |
0.2% |
0.2% |
|
USD |
Unemployment Claims |
386K |
377K |
380K |
|
|
JPY |
Overnight Call Rate |
|
|
|
|
|
Jun 15 |
USD |
Prelim UoM Consumer Sentiment |
74.1 |
77.5 |
79.3 |
Historical
Highest: 0.8816 USD on Jul 31, 2011.
Average: 0.7543 USD over this period.
Lowest: 0.6619 USD on Jun 07, 2010.
Economic Highlights of the coming week that affect the AUD, JPY, NZD and USD
|
Date |
Time |
Currency |
Event |
Previous |
|
Jun 18 |
Day 1 |
ALL |
G20 Meetings |
|
|
Jun 19 |
1:30 |
AUD |
Monetary Policy Meeting Minutes |
|
|
12:30 |
USD |
Building Permits |
0.72M |
|
|
Day 2 |
ALL |
G20 Meetings |
||
|
22:45 |
NZD |
Current Account |
-2.76B |
|
|
Jun 20 |
16:30 |
USD |
FOMC Statement |
|
|
18:00 |
USD |
FOMC Economic Projections |
||
|
18:15 |
USD |
FOMC Press Conference |
||
|
22:45 |
NZD |
GDP q/q |
0.3% |
|
|
Jun 21 |
12:30 |
USD |
Unemployment Claims |
386K |
|
14:00 |
USD |
Existing Home Sales |
4.62M |
|
|
14:00 |
USD |
Philly Fed Manufacturing Index |
-5.8 |
Click here a current NZD/USD Chart.
Originally posted here
