NZD/USD Fundamental Analysis November 25, 2013 Forecast

NZD/USD Fundamental Analysis November 25, 2013 Forecast
NZD/USD Fundamental Analysis November 25, 2013 Forecast
Analysis and Recommendation:

The NZD/USD dipped by 11 points to trade at 0.8195 as the US dollar climbed and markets continues to worry about Chinese HSBC PMI data released yesterday. The kiwi is heading for a 1.6 percent drop against the greenback this week as world markets drift in the absence of news on the US Federal Reserve’s intentions for its US$85 billion a month money-printing program.

Traders are second-guessing when the Fed will start dialing back its US$85 billion a month asset purchase programme amid conflicting messages from the US central banks this week. Outgoing chairman Ben Bernanke urged caution in expecting an early tapering, saying the “highly accommodative policies” would be in place for as long as they were needed. The following day, minutes to the last policy meeting showed the Federal Open Market Committee picking signs of growth in the economy that would warrant squirting less new money into the US economy.

US economic data is being closely watched by traders, and yesterday’s lower than expected initial jobless numbers supported demand for the US dollar. Reserve Bank of New Zealand assistant governor John McDermott today said the country’s poor savings rate was a major factor fuelling the currency, forcing up interest rates in the hunt for foreign funding. The best way to address that was providing incentives to lift private sector savings.

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 22, 2013 actual v. forecast

Date

 

Currency

 

 

Event

Actual

 

Forecast

 

Previous

 

 

Nov. 22

 

TWD

 

 

Taiwanese Unemployment Rate 

4.17%

 

4.20% 

 

4.18% 

 

 

 

 

JPY

 

 

BoJ Monthly Report 

 

 

 

 

 

 

 

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

Date

Time

Currency

Event

Forecast

Previous

 Nov. 25

15:00

USD

Pending Home Sales (MoM) 

2.0% 

-5.6% 

Government Bond Auction

Date Time Country 

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

Nov 27 10:10 Italy

Nov 27 10:10 Sweden

Nov 27 10:30 Germany

Nov 27 18:00 US

Nov 28 10:10 Italy

Nov 28 10:30 UK

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