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
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 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