NZD/USD Fundamental Analysis April 30, 2013 Forecast

Analysis and Recommendation:

The NZD/USD is trading at 0.8516 gaining 34 pips as the US dollar weakened and all commodity currencies ranging from the Aussie to the Looney are benefiting this morning. Overall there was a global shift in market sentiment which saw the US dollar tumble by 19 points this morning to trade at 82.38 after trading well above 83.00 last week. The kiwi may dip on the risk that manufacturing figures from China and US payrolls will add to signs of global weakness and traders await decisions from the Federal Reserve and European Central Bank.

The Chinese and US data takes on greater significance because the latest readings have been lower than expected. The unofficial China HSBC Flash Purchasing Managers Index fell to 50.5 in April from 51.6 in March, missing estimates, figures last week showed. US payrolls in March tumbled to just 88,000 jobs added, less than half the number expected and adding to concern global growth is sputtering. Weak numbers this week could weigh on growth currencies such as the kiwi and Australian dollars. At the same time the Federal Open Market Committee may note the run of weaker data, while the ECB may cut 25 basis points off its key rate to 0.5 percent on Thursday

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 April 29, 2013 actual v. forecast

 

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

Government Bond Auction

Date Time Country 

Apr 30 09:10 Norway

Apr 30 09:30 Belgium

Apr 30 09:30 UK

Apr 30 14:30 UK

May 01 00:30 Japan

May 02 08:50 France

May 02 09:10 Sweden