Analysis and Recommendation: (close of the Asian session)

 The NZD/USD  began falling before today's GDP figures were released.  Opening at 0.8156 and falling to trade at 0.8087.

Economists expected GDP in the final three months of 2011 to have slowed to 0.6 per cent from 0.8 per cent in the September quarter. The actual came in well under expectation as 0.3%

The NZD began to fall prior to the release as has stayed depressed since.

The data comes a day after government figures showed the current account deficit narrowed more than expected in the fourth quarter, amid record exports of dairy products and smaller dividends paid out to foreigners

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Economic Data March 21 and 22, 2012 actual v. forecast

Mar. 21

00:30

 

AUD

 
 
 

MI Leading Index (MoM) 

0.6%

 
 
 

0.7% 

 
 

 

03:00

 

NZD

 
 
 

Credit Card Spending (YoY) 

4.0%

 
 
 

3.1% 

 
 

 

05:30

 

JPY

 
 
 

All Industries Activity Index (MoM) 

-1.0%

 

-0.5% 

 

1.6% 

 
 

 

08:30

 

THB

 
 
 

Thai Trade Balance 

0.52B

 

-0.10B 

 

-0.20B 

 
 

 

08:30

 

THB

 
 
 

Thai Interest Rate Decision 

3.00%

 

3.00% 

 

3.00% 

 
 

 

10:30

 

GBP

 
 
 

MPC Meeting Minutes 

 

 
 
 
 
 
 

 

10:30

 

GBP

 
 
 

Public Sector Net Borrowing 

12.9B

 

5.2B 

 

-10.2B 

 
 

 

11:30

 

EUR

 
 
 

German 2-Year Schatz Auction 

0.310%

 
 
 

0.250% 

 
 

 

12:00

 

USD

 
 
 

MBA Mortgage Applications  

-7.4%

 
 
 

-2.4% 

 
 

 

13:30

 

CAD

 
 
 

Leading Indicators (MoM) 

0.6%

 

0.6% 

 

0.4% 

 
 

 

14:30

 

USD

 
 
 

Fed Chairman Bernanke Testifies 

 

 
 
 
 
 
 

 

15:00

 

USD

 
 
 

Existing Home Sales 

4.59M

 

4.61M 

 

4.63M 

 
 

 Mar. 22

15:00

 

JPY

 
 
 

Trade Balance

-0.31T

 

-0.34T 

 

-0.49T 

 
 

Economic Events Scheduled for March 23, 2012

There are no events scheduled at this present time that directly affect the AUD, NZD or JPY

Government Bond Auctions (this week)

Mar 22  10:10  Sweden  I/L bond auction

Mar 22  10.30  UK  Auctions 0.625% 2042 I/L Gilt

Mar 22  15:00  US

Announces auctions of 2Y Notes on Mar 27, 5Y Notes on Mar

28 & 7Y Notes on Mar 29

 

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

 

Name S3 S2 S1 Pivot R1 R2 R3

Classic
0.7928
0.7996
0.8040
0.8108
0.8152
0.8220
0.8264

Fibonacci
0.7996
0.8039
0.8065
0.8108
0.8151
0.8177
0.8220

Camarilla
0.8053
0.8063
0.8074
0.8108
0.8094
0.8105
0.8115

Woodie's
-
0.7990
0.8028
0.8102
0.8140
0.8214
-

DeMark's
-
-
0.8130
0.8097
0.8018
-
-