Economic Events: (GMT)

No Local Economic Events Scheduled for Friday

00:15     USD       FOMC Member Fisher Speaks

Federal Reserve Bank of Dallas President and Federal Open Market Committee (FOMC) voting member (2008 and 2011) Richard Fisher is to speak. FOMC members are responsible for setting the benchmark interest rate and their speeches are closely watched for indications on the future possible direction of monetary policy.

His comments may determine a short-term positive or negative trend                                                                                                 

 13:30    USD      Average Hourly Earnings (MoM)                              0.2%                      0.2%                     

 13:30    USD      Nonfarm Payrolls                                                         150K                      200K                     

 13:30    USD       Unemployment Rate                                                   8.5%                      8.5%                     

13:30     USD       Private Nonfarm Payrolls                                          170K                      212K

Employment Reports

Average Hourly Earnings measures the change in the price businesses pay for labor, not including the agricultural sector.

Nonfarm Payrolls measures the change in the number of people employed during the previous month, excluding the farming industry. Job creation is the foremost indicator of consumer spending, which accounts for the majority of economic activity.

The Unemployment Rate measures the percentage of the total work force that is unemployed and actively seeking employment during the previous month. 

Private Nonfarm Payrolls measures the change in the number of total number of paid U.S. workers of any business, excluding general government employees, private household employees, employees of nonprofit organizations that provide assistance to individuals and farm employees.

               

15:00    USD       ISM Non-Manufacturing Index                                 53.2                        52.6

The Institute of Supply Management (ISM) Non-Manufacturing Purchasing Managers' Index (PMI) (also known as the ISM Services PMI ) rates the relative level of business conditions including employment, production, new orders, prices, supplier deliveries, and inventories. The data is compiled from a survey of approximately 400 purchasing managers in the non-manufacturing sector. On the index, a level above 50 indicates expansion; below indicates contraction.

A higher than expected reading should be taken as positive/bullish for the USD, while a lower than expected reading should be taken as negative/bearish for the USD.

NZD/USD

NZD/USD Fundamental Analysis Feb. 3, 2012 Forecast

Analysis and Recommendation: (Close of  the Asian session )

NZD/USD is trading at 0.8329. The kiwi, showed little strenght today, only reacting to the drop in the USD. The USD found investors moving to other safe risk currencies, as economic data in the US was lackluster. ( see below ). While the manufacturing sector in the US, UK and German showed continued growth.

Economic Data from Europe and the USA on Wednesday:

GBP       Nationwide HPI (MoM)                          -0.2%                    -0.1%                     -0.2%      Unexpected Drop           

CHF        Retail Sales (YoY)                               0.6%                     1.6%                      1.8%       Unexpected Drop           

CHF        SVME PMI                                              47.3                       51.8                        49.1        Unexpected Drop

EUR        French Manufacturing PMI                  48.5                       48.5                        48.5                                       

EUR        German Manufacturing PMI              51.0                      50.9                        50.9         Above Forecast              

 EUR       Manufacturing PMI                              48.8                      48.7                        48.7         Above Forecast              

 GBP      Manufacturing PMI                               52.1                      50.1                        49.7        Above Forecast               

 EUR       CPI (YoY)                                                2.7%                     2.7%                      2.7%

USD       ADP Employment Change                 170K                     189K                      292K      Unexpected Drop

USD       ISM Manufacturing PMI                       54.1                       54.6                        53.9        Above Forecast

USD       Crude Oil Inventories                           4.2M                      3.2M                      3.6M      Increased Inventory

NZD/USD Pivot Points (Time Frame: 1 Day)
 

Name S3 S2 S1 Pivot R1 R2 R3

Classic
0.8128
0.8177
0.8260
0.8309
0.8392
0.8441
0.8524

Fibonacci
0.8177
0.8227
0.8258
0.8309
0.8359
0.8390
0.8441

Camarilla
0.8306
0.8318
0.8330
0.8309
0.8355
0.8367
0.8379

Woodie's
-
0.8185
0.8276
0.8317
0.8408
0.8449
-

DeMark's
-
-
0.8416
0.8321
0.8284
-
-