NZD/USD Daily Fundamental Analysis for August 12, 2011

The New Zealand dollar inclined for the first time against the dollar after heavy losses during last past period especially after the Standard & Poor’s cut reduced the US’s long-term credit rating. However kiwi recovered in a relief rally on the slight improvement for commodities and equities.

Commodities recovered slightly which supported the New Zealand dollar to gain versus greenback, also it increased after data showed consumer confidence rose.

On Friday, at 22:45 GMT, NZD retail sales Ex. inflation for the second quarter is due after the recorded 0.9% in the first quarter.

At 12:30 GMT, the U.S. economy will release the advanced retail sales for July, where the previous reading was 0.1% and expected to come at 0.4%. The University of Michigan confidence for August will be released at 09:55 GMT, where the preliminary reading is expected to come at 63.2 from the previous of 63.7.

The U.S. business inventories for June will be released at 10:00 GMT, where it had a previous of 1.0% and expected to come at 0.6%.

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