Economic Events: (GMT)
13:30 USD Core Durable Goods Orders (MoM) 0.0% 2.2%
13:30 USD Durable Goods Orders (MoM) -0.8% 3.0%
Durable Goods Orders measures the change in the total value of new orders for long lasting manufactured goods, including transportation items.
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.
15:00 USD CB Consumer Confidence 63.0 61.1
Conference Board (CB) Consumer Confidence measures the level of consumer confidence in economic activity. It is a leading indicator as it can predict consumer spending, which plays a major role in overall economic activity. Higher readings point to higher consumer optimism.
21:45 NZD Building Consents (MoM) 3.4% 2.1%
Building Consents (also known as Building Permits) measures the change in the number of new building consents issued by the government. Building consents are a key indicator of demand in the housing market.
A higher than expected reading should be taken as positive/bullish for the NZD, while a lower than expected reading should be taken as negative/bearish for the NZD.
23:50 JPY Industrial Production (MoM) 1.5% 3.8%
Industrial Production measures the change in the total inflation-adjusted value of output produced by manufacturers, mines, and utilities.
A higher than expected reading should be taken as positive/bullish for the JPY, while a lower than expected reading should be taken as negative/bearish for the JPY.
NZD/USD Fundamental Analysis February 28, 2012, Forecast
Analysis and Recommendation: (close of the Asian session)
NZD/USD is trading at 0.8352 to start out the week, falling from the opening on Monday morning of 0.8369. Trade Balance data in the kiwi country was disappointing after being reviewed.
The dollar fell over the week on continued increases in crude oil prices, and dipped to 0.8340 before rebounding in Asian trading on the disappointing data from NZ.
NZD Trade Balance -199M 167M 306M
New Zealand has reported a trade deficit in January as single aircraft purchase skewed the import balance, which would have been a small surplus otherwise..
The trade balance was a deficit of $199 million in January, turning from a revised surplus of $306 million a month earlier, according to Statistics New Zealand.
Removing the aircraft purchase, the nation would have registered a surplus of $14 million still far below expected forecast.
The annual trade balance was a surplus of $646 million, short of the $1.28 billion forecast after November's import balance was revised up by $224 million.
Sovereign Bond Auction Schedule
Feb 28 01:30 Japan Auctions 2Y JGBs
Feb 28 10:10 Italy BTP/CCTeu auction
Feb 28 10:30 Belgium Auctions 3 & 6M T-bills
Feb 28 15:30 UK Details gilt auctions on Mar 06 & Mar 07
Feb 29 10:10 Sweden Auctions T-bills
Feb 29 10:30 Germany Eur 4.0bn 2.0% Jan 2022 Bund
Feb 29 15:30 Sweden Details nominal bond auction on Mar 07
Mar 01 09:30 Spain Bono auction
Mar 01 09:50 France OAT auction
Mar 01 10.30 UK Auctions 4.0% 2022 conventional Gilt
NZD/USD Pivot Points (Time Frame: 1 Day)
Name S3 S2 S1 Pivot R1 R2 R3