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Thread: Currencies

  1. #11
    Join Date
    Jun 2013
    Dubai, UAE
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    NZD - Wednesday 07-03-2013


    The NZD/USD foreign exchange rate is last trading at 0.7751, around session lows, but still little moved in last 9 trading days, holding ground above the 0.77 round bid line.

    NZD/USD volatility dropping

    With all eyes now in neighbor's Australia retail sales and trade balance data , The Kiwi dollar is trapped inside a very narrow trading range 0.7767/0.7735,

    Making volatility to dramatically slow down, last around the 128 pips per day on average for last 14 trading days.

    NZD/USD Key technical levels

    The Immediate support to the downside for NZD/USD lies at yesterday's lows 0.7735, followed by Friday's/June 20 lows at 0.7710, and June 24 fresh 1-year lows at 0.7681.

    Closest resistance to the upside shows at recent session highs at 0.7768, followed by June 25 highs at 0.7798, and Monday's/Tuesday's weekly highs at 0.7830.

  2. Thanks Samirofi, PCMAnalyst thanked for this post
  3. #12
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    Jun 2013
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    USD - Wednesday 03-07-2013

    News release Time
    16.15 PM Dubai Time
    12:15 PM GMT
    Actual : -
    Forecast : 160 K
    Previous : 135 k

    Impact : High
    The ADP National Employment Report is a measure of the monthly change in non-farm, private employment, based on the payroll data of approximately 400,000 U.S. business clients.
    The release, two days ahead of government data, is a good predictor of the government's non-farm payroll report. The change in this indicator can be very volatile.
    Job creation is an important leading indicator of consumer spending, which accounts for a majority of overall economic activity.
    ADP provides payroll services to US corporations, and they analyze data from around 400,000 customers to derive employment growth estimations.

    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.

    • USA’s Initial Jobless Claims

    News release Time
    16.30 PM Dubai Time
    12:30 PM GMT
    Actual : -
    Forecast : 345 K
    Previous : 346 k

    Impact : High
    The Initial Jobless Claims released by the US Department of Labor is a measure of the number of people filing first-time claims for state unemployment insurance.
    In other words, it provides a measure of strength in the labor market.

    This is the nation's earliest economic data. The market impact fluctuates from week to week - there tends to be more focus on the release when traders need to diagnose recent developments, or when the reading is at extreme
    Although it's generally viewed as a lagging indicator, the number of unemployed people is an important signal of overall economic health because consumer spending is highly correlated with labor-market conditions;

    A larger than expected number indicates weakness in this market which influences the strength and direction of the US economy.

    Generally a decreasing number should be taken as positive or bullish for the USD.
    And a increasing number should be taken as negative or bearish for the USD.

    Last edited by Amir; 07-03-2013 at 09:03 AM.

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