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

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

Classic
0.8281
0.8307
0.8323
0.8349
0.8365
0.8391
0.8407

Fibonacci
0.8307
0.8323
0.8333
0.8349
0.8365
0.8375
0.8391

Camarilla
0.8328
0.8332
0.8336
0.8349
0.8343
0.8347
0.8351

Woodie's
-
0.8305
0.8318
0.8347
0.8360
0.8389
-

DeMark's
-
-
0.8357
0.8345
0.8315
-
-