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 perked up a bit this week, but closed at 0.7904 on the strength of the USD. GDP soared in the kiwi island nation, giving locals some hopes for the future. It was the global economy that was weighing on New Zealand.
With negative numbers from all of its neighbors, such as China and Japan, New Zealand’s major trading partners, the global outlook has turned down and is causing the commodity currencies to weaken
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 19-23, 2012 actual v. forecast
|
Date |
Time |
Currency |
Importance |
Event |
Actual |
Forecast |
Previous |
|
Jun. 19 |
02:30 |
AUD |
Monetary Policy Meeting Minutes |
||||
|
10:00 |
EUR |
German ZEW Economic Sentiment |
-16.9 |
4.0 |
10.8 |
||
|
Jun. 20 |
09:30 |
GBP |
Claimant Count Change |
8.1K |
-3.0K |
-12.8K |
|
|
17:30 |
USD |
Interest Rate Decision |
0.25% |
0.25% |
0.25% |
||
|
19:15 |
USD |
Fed Chairman Bernanke Speaks |
|||||
|
23:45 |
NZD |
GDP (QoQ) |
1.1% |
0.5% |
0.4% |
||
|
Jun. 21 |
09:30 |
GBP |
Retail Sales (MoM) |
1.4% |
1.2% |
-2.4% |
|
|
13:30 |
Core Retail Sales (MoM) |
-0.3% |
0.2% |
0.3% |
|||
|
13:30 |
USD |
Initial Jobless Claims |
387K |
380K |
389K |
||
|
15:00 |
USD |
Existing Home Sales |
4.55M |
4.57M |
4.62M |
||
|
Jun. 22 |
09:00 |
EUR |
German Ifo Business Climate Index |
105.3 |
105.9 |
106.9 |
|
|
13:30 |
CAD |
Core CPI (MoM) |
0.2% |
0.3% |
0.4% |
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 25 |
14:00 |
USD |
New Home Sales |
343K |
|
Jun 26 |
13:00 |
USD |
S&P/CS Composite-20 HPI y/y |
-2.6% |
|
14:00 |
USD |
CB Consumer Confidence |
64.9 |
|
|
22:45 |
NZD |
Trade Balance |
355M |
|
|
Jun 27 Jun 28 |
12:30 |
USD |
Durable Goods Orders m/m |
0.2% |
|
14:00 |
USD |
Pending Home Sales m/m |
-5.5% |
|
|
14:30 |
USD |
Crude Oil Inventories |
||
|
23:50 |
JPY |
Retail Sales y/y |
5.8% |
|
|
1:00 |
NZD |
NBNZ Business Confidence |
27.1 |
|
|
Jun 29 |
12:30 |
USD |
Unemployment Claims |
|
|
12:30 |
USD |
Final GDP q/q |
1.9% |
|
|
22:45 |
NZD |
Building Consents m/m |
-7.2% |
|
|
23:30 |
JPY |
Household Spending y/y |
2.6% |
|
|
23:30 |
JPY |
Tokyo Core CPI y/y |
-0.8% |
|
|
23:50 |
JPY |
Prelim Industrial Production m/m |
-0.2% |
|
|
1:30 |
AUD |
Private Sector Credit m/m |
0.4% |
|
|
12:30 |
USD |
Core PCE Price Index m/m |
0.1% |
|
|
12:30 |
USD |
Personal Spending m/m |
0.3% |
|
|
13:45 |
USD |
Chicago PMI |
52.7 |
|
|
13:55 |
USD |
Revised UoM Consumer Sentiment |
74.1 |
Upcoming Government Bond Auctions
Date Time Country
Jun 25 09:10 Norway
Jun 25 09:30 Germany
Jun 25 10:00 Belgium
Jun 25 15:30 Italy
Jun 26 00:30 Japan
Jun 26 08:30 Holland
Jun 26 08:30 Spain
Jun 26 09:10 Italy
Jun 26 09:30 UK
Jun 26 14:30 UK
Jun 26 17:00 US
Jun 27 09:10 Italy
Jun 27 09:10 Sweden
Jun 27 17:00 US
Jun 28 09:10 Italy
Jun28 17:00 US
Click here a current NZD/USD Chart.
Originally posted here
