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NZD/USD Analysis Forecast, June 08, 2015 – Forecast

nzdusd friday bnsnlaAnalysis and Recommendation:

The NZD/USD is trading in the green this morning bouncing off of new lows to trade at 0.7135 adding 5 points against a stronger US dollar which is gaining ahead of the NFP report due later today. The US dollar has been supported by better than expected unemployment claims.

As one of the world’s largest economies, China’s expected decline in growth in 2015 and 2016 also raises red flags. China’s government is reacting quickly with more plans to step up infrastructure spending. Much like in the U.S., the key to getting out of the rough patch will be whether China’s growing middle and upper classes keep spending.

The OECD says the global economy could easily get an A grade again, but it will take a lot more efforts from governments and central banks around the world to boost growth.

The kiwi fell as traders await the key US non-farm payrolls employment report in anticipation a strong number could cement a September rate hike by the Federal Reserve.

Today, the focus will be on the monthly US non-farm payrolls report, which is closely watched by the Federal Reserve as it weighs the likely timing of interest rate hikes this year. Data released yesterday showed US initial jobless claims fell by 8,000 to 276,000 in the final week of May, boosting optimism about the upcoming payrolls report for May.

ForexTraq 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 for NZD/USD in our weekly reports.

Today’s economic releases actual vs. forecast:

It is a light data day until the US NFP – There was no top tier data in Asia

Cur.

 

Event

Actual

Forecast

Previous

 

  EUR

 

German Factory Orders (MoM)

 

0.5%

0.9%

 

 

  EUR

 

GDP (QoQ) (Q1)  

 

0.4%

0.4%

 

 

  EUR

 

GDP (YoY) (Q1)  

 

1.0%

1.0%

 

 

  USD

 

Average Hourly Earnings (MoM)

 

0.2%

0.1%

 

 

  USD

 

Nonfarm Payrolls (May)

 

225K

223K

 

 

  USD

 

Participation Rate (May)

 

 

62.8%

 

 

  USD

 

Private Nonfarm Payrolls (May)

 

220K

213K

 

 

  USD

 

Unemployment Rate (May)

 

5.4%

5.4%

   

 NZDUSD(60 minutes)20150605053807

Upcoming Economic Events that you should be monitoring:

Monday, June 08, 2015

Cur.

 

Event

Actual

Forecast

Previous

 

 

 

 

Australia – Queen’s Birthday

  JPY

 

Current Account n.s.a. (Apr)

 

 

2.795T

 

 

  JPY

 

GDP (QoQ) (Q1)

 

 

0.6%

 

 

  JPY

 

GDP (YoY) (Q1)

 

 

2.4%

 

 

  CNY

 

Exports (YoY) (May)

 

-5.0%

-6.4%

 

 

  CNY

 

Imports (YoY) (May)

 

-10.7%

-16.2%

 

 

  CNY

 

Trade Balance (May)

 

44.95B

34.13B

 

 

  EUR

 

German Industrial Production

 

0.6%

-0.5%

 

 

  EUR

 

German Trade Balance (Apr)

 

19.0B

19.3B

 

 

  CAD

 

Housing Starts (May)

 

 

181.8K

 

 

  CAD

 

Building Permits (MoM) (Apr)

 

 

11.6%

 

 

Government Bond Auctions

Date Time Country

Jun 08 12:00 Norway Details bond auction on 10 Jun

Jun 08 17:30 Italy Announces details of BTP/CCTeu on 11 June

Jun 09 11:10 Austria Holds RAGB bond sale

Jun 09 11:30 UK Auctions 0.125% 2024 I/L Gilt

Jun 10 11:15 Norway Holds bond auction

Jun 10 11:30 Germany Eur 5bn Jun 2017 Schatz

Jun 10 16:30 Sweden Details bond auction on 17 June

Jun 11 11:30 Spain Auctions Bonos

Jun 11 11:10 Italy Auctions BTPs/CCTeus

Jun 11 11:10 Sweden Holds inflation-linked bond auction

Jun 11 11:30 UK Auctions 3.5% 2045 Conventional Gilt

Jun 11 17:00 US Announces details of 30-year TIPs sale on 18 Jun

 

NZD/USD analysis forecast

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