Economic Events: (GMT)

Close of  the Asian Session

There are no economic events  or reports expected to effect the kiwi today.

08:30     USD     GDP Price Index (QoQ)     2.0%     2.6%

08:30     USD     GDP (QoQ)     3.0%     1.8%

The GDP Price Index measures the annualized change in the price of all goods and services included in gross domestic product.It is the broadest inflationary indicator.

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.

 09:55    USD     Michigan Consumer Sentiment Index     74.2     74.0

The University of Michigan Consumer Sentiment Index rates the relative level of current and future economic conditions. There are two versions of this data released two weeks apart, preliminary and revised. The preliminary data tends to have a greater impact. The reading is compiled from a survey of around 500 consumers.

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 Jan. 27, 2012 Forecast

Analysis and Recommendation:

NZD/USD is trading at 0.8169 after opening at 0.8168. This pair just slept through all of the changes in the USD.

The dollar weakened on FOMC statements against all its trading partners. The USD was up in the US session until the Fed comments, driving the USD straight down. The Fed said it would hold interest rates until sometime in 2014. Stock markets soared and the currency fell.

Trade reports from Japan, showed that  Japan had the first trade deficit since 1980, a lower demand on export products is to blame which might also hold true for New Zealand, as the recession in Europe continues to grow. The World Economic Forum continues its meeting in Davos, Switzerland, and markets will await comments from policymakers or financial and corporate leaders on the U.S. and European economies. Angela Merkel gave the opening keynote address, admitting that the austerity programs and bailouts in Europe had failed, and preparing the markets for a Greek default.

Markets in Hong Kong, Taipei and Shanghai, among others, remained closed for the Lunar New Year holidays.

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

Name S3 S2 S1 Pivot R1 R2 R3

Classic
0.7923
0.7982
0.8097
0.8156
0.8271
0.8330
0.8445

Fibonacci
0.7982
0.8048
0.8089
0.8156
0.8222
0.8263
0.8330

Camarilla
0.8164
0.8180
0.8196
0.8156
0.8227
0.8243
0.8259

Woodie's
-
0.7996
0.8124
0.8170
0.8298
0.8344
-

DeMark's
-
-
0.8300
0.8171
0.8126
-
-