NZD/USD Fundamental Analysis November 22, 2013 Forecast

nzdusd thursday bnsnlaAnalysis and Recommendation:

The NZD/USD fell along with its cousin the Aussie after Chinese PMI data missed expectations and also credit card spending in the small nation dropped last month. The currency is holding at 0.8250 down by 21 pips. Activity in China’s vast factory sector grew at a milder pace in November on shrinking new export orders, a preliminary private survey showed on Thursday, and bolstering expectations that the economy could lose some vigor in the fourth quarter. A preliminary Purchasing Managers’ Index of China’s factory activity in November from HSBC Holdings Plc and Markit Economics fell to 50.4 from 50.9 the previous month. Analysts surveyed by Bloomberg had expected a reading of 50.8, with 50 the dividing line between growth and contraction.

Investors expected the Fed to delay a decision to begin trimming $85 billion in monthly stimulus until March 2014 or later, with just 5 percent looking for a move next month. Fed Chairman Ben S. Bernanke said on Nov. 19 that a “preponderance of data” would be needed to begin removing accommodation.

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 November 21, 2013 actual v. forecast

Date

 

Currency

 

 

Event

Actual

 

Forecast

 

Previous

 

 

Nov. 21

 

JPY

 

 

Foreign Bonds Buying 

349.9B

 

 

 

357.8B 

   

 

 

SGD

 

 

Singaporean GDP (YoY) 

5.8%

 

5.3% 

 

5.1% 

 

 

 

 

CNY

 

 

Chinese HSBC Manufacturing PMI 

50.4

 

50.8 

 

50.9 

 

 

 

 

NZD

 

 

Credit Card Spending (YoY) 

3.2%

 

 

 

5.1% 

   

 

 

JPY

 

 

Interest Rate Decision 

 

 

0.10% 

 

0.10% 

 

 

 

 

JPY

 

 

BoJ Press Conference 

 

 

 

 

 

   

 NZDUSD 1121BNSNLA

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

Date

Time

Currency

Event

Previous

Nov. 22 

16:00

USD

KC Fed Manufacturing 

6.00 

Government Bond Auction

Date Time Country 

Nov 22 16:30 Italy

Nov 25 10:30 Germany

Nov 25 11:00 Belgium

Nov 25 16:30 Italy

Nov 25 18:00 US

Nov 26 09:10 Holland

Nov 26 09:30 Spain

Nov 26 10:10 Italy

Nov 26 12:00 Norway

Nov 26 18:00 US

 

Leave a Reply

Your email address will not be published.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