NZD/USD Fundamental Analysis August 24, 2012, Forecast

Analysis and Recommendation:

The NZD/USD climbed on the back of the US dollar to trade at 0.8171 adding 0.0030. The currency was trading in a tight range with limited eco data and little news to support any price changes.

The FOMC minutes was a catalyst for an immediate change in commodity and commodity currency prices all gaining as the US dollar declined.

This morning’s poor print in China had little effect on the kiwi, although under normal circumstances the currency would have tumbled as New Zealand depends on its exports to China, although the promise of stimulus from both the US and China are very good for the kiwi economy.

Japan’s poor trade balance report yesterday also weighs on the currency as New Zealand exports a great deal of its dairy product to Japan.

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 up to the data analysis and information in our weekly reports.

Economic Data August 23, 2012 actual v. forecast

Date

Time

 

Currency

 

 

Event

Actual

 

Previous

 

 

Aug. 23

03:30

 

CNY

 

 

Chinese HSBC Manufacturing PMI 

47.80

 

49.30 

   

 

Upcoming Economic Events that affect the AUD, NZD, JPY and USD

Date

Time

Currency

Event

Forecast

Previous

Aug 27 

09:00

EUR

German Ifo Business Climate Index 

102.7 

103.3 

Government Bond Auctions

Date  Time  Country 

23/8  05:45  Japan 

23/8  11:30  UK 

23/8  19:00  US 

27/8  11:30  Germany 

28/8  10:30  Spain

28/8  11:00  Italy 

28/8  19:00  US 

29/8  11:00  Italy 

29/8  19:00  US 

30/8  05:35  Japan

30/8  11:00  Italy 

30/8  19:00  US

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