Economic Events: (GMT)

21:45     NZD       Employment Change (QoQ)                                        0.4%                      0.2%                     

21:45     NZD       Unemployment Rate                                                     6.5%                      6.6%

NZD/USD

NZD/USD Fundamental Analysis February 8, 2012, Forecast

The Unemployment Rate measures the percentage of the total work force that is unemployed and actively seeking employment during the previous quarter. This is reported with the employment change data.

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

Analysis and Recommendation: (Close of  the Asian session )

NZD/USD is trading at 0.8359. The dollar strenght continued today as worried about Greece continue to mount. There is virtually no time left to continue negotiations. March 20th is dooms day for Greece and it will take several weeks for the legalities and the paperwork to be completed. The deal was supposed to have been completed by the deadline two weeks ago.

It seems that it is going to be almost impossible to save Greece from default at this time. The EU, the ECB and the IMF are not in the mood to offer any additional assistance.

 Economic Data results prior trading 

 AUD

Retail Sales (MoM)

-0.1% 

      0.2%  

    0.1% 

EUR

German Factory Orders (MoM) 

1.7%

0.5% 

-4.9% 

CAD

Ivey PMI 

64.1

57.8 

63.5 

NZD

Labor Cost Index (QoQ) 

0.7%

0.5% 

0.5% 

Scheduled Sovereign Bond Sales

Feb 08  10:10  Sweden  Nominal bond auction

Feb 08  10:30  Germany  Eur 4.0bn Feb 2017 Bobl

Feb 08  10:30  Swiss  Bond auction

Feb 08  16:30  Italy   Details BOT auction on Feb 13

Feb 08  18:00  US  Auctions 10Y Notes

Feb 09  10:10  Sweden  Sek 0.75bn I/L bond auction

Feb 09  15:30  Sweden  Details I/L bond auction on Mar 23

Feb 09  16:00  US  Announces auctions of 30Y TIPS on Feb 16

Feb 09  16:30  Italy   Details BTP/CCTeu auction on Feb 14

Feb 09  18:00  Italy   Auctions 30Y Bonds

Feb 10  11:00  Belgium  OLO auction

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

Name S3 S2 S1 Pivot R1 R2 R3

Classic
0.8230
0.8258
0.8309
0.8337
0.8388
0.8416
0.8467

Fibonacci
0.8258
0.8288
0.8307
0.8337
0.8367
0.8386
0.8416

Camarilla
0.8339
0.8346
0.8353
0.8337
0.8368
0.8375
0.8382

Woodie's
-
0.8264
0.8321
0.8343
0.8400
0.8422
-

DeMark's
-
-
0.8402
0.8344
0.8323
-
-