NZD/USD Fundamental Analysis May 29, 2013 Forecast

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Updated: Aug 21, 2015, 21:00 GMT+00:00

Analysis and Recommendation: The NZD/USD gained 10 pips to trade at 0.8092 this morning after a quiet day on Monday with US and UK markets closed. There

NZD/USD Fundamental Analysis May 29, 2013 Forecast

Analysis and Recommendation:

The NZD/USD gained 10 pips to trade at 0.8092 this morning after a quiet day on Monday with US and UK markets closed. There has been very little news flow or eco data over the past few days. Today looks like being a quiet day without a lead from US markets and with no significant economic releases scheduled in the Asian time zone. The greatest market risk today looks to be to the downside. In the absence of news it seems less likely that we will get the kind of catalyst necessary to attract buyers back to the market in volume at current valuations. On the other hand, it’s not impossible that recent downward momentum could feed on itself even without a news catalyst. Further weakness in Asian markets and ongoing selling of “yield” stocks like banks and large retailers on the local markets is a possibility.

Investors will be watching data out of the US today for signs of a sustained economic recovery, which Federal Reserve Chairman Ben Bernanke said was needed before he would wind back the central bank’s money printing program. Reports from the Federal Reserve banks of Richmond and Dallas on manufacturing activity today may suggest regional economic activity continues to be weak.

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 May 28, 2013 actual v. forecast

Date

Currency

Event

Actual

Forecast

Previous

May 28

JPY

CSPI (YoY)

-0.4%

-0.2%

THB

Thai Industrial Production (YoY)

-3.8%

1.7%

0.5%

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

Date	Time	Currency	Event	Forecast	Previous
May 29	00:50	JPY	Retail Sales (YoY)	-0.4%	-0.3%
	02:00	AUD	HIA New Home Sales (MoM)		4.2%
	02:30	AUD	Construction Work Done (QoQ)	1.0%	-0.1%
	23:45	NZD	Building Consents (MoM)		-9.1%