NZD/USD Forecast Jan. 12, 2012, Fundamental Analysis

NZD/USD Forecast Jan. 12, 2012, Fundamental Analysis
NZD/USD Forecast Jan. 12, 2012, Fundamental Analysis
The NZD/USD pair was little changed early Wednesday, where the latest employment data from New Zealand did not support Kiwi to continue its bullish movement against the greenback.

The Westpac Employment Confidence Index retreated during the forth quarter, which increased concerns regarding the employment sector outlook for the New Zealand economy.

The weak data reduced demand for the Kiwi, which is struggling to keep its gains against the greenback, yet the current correction and slightly eased tension over the debt crisis is keeping the dollar at bay which is supporting higher yielding assets such as kiwi.

On Thursday at 00:00 GMT, The New Zealand economy will issue ANZ Commodity Price for December, where the previous reading was down by 1.0%.

The U.S. economy will release the Advance Retail Sales for December at 13:30 GMT, where the expectations refer to 0.2% in line with the previous reading. The Retail Sales Less Autos is expected to rise to 0.3% from the prior 0.2%.

At 13:30 GMT, U.S. economy will issue its weekly initial claims numbers, where the number of people filing for first-time claims for the state unemployment insurance increased 372 thousand last week.

The U.S. Business Inventories for November will be released at 15:00 GMT, with a previous reading of 0.8% and the expectations refer to 0.4%. While the Monthly Budget Statement for December will be released at 19:00 GMT, and it’s expected to show a deficit of 79.0 billion.

Leave a Reply

Your email address will not be published. Required fields are marked *