25 Nov 2013
Flash: NZD/USD events risk stacking up – Westpac
FXstreet.com (Barcelona) - According to currency strategist Imre Speizer at Westpac Banking Corporation ABN, this week’s NZ calendar is again busy with second tier releases.
Key Quotes:
“Trade balance (Wed), monthly business confidence (Thu) and building permits and money supply (both Fri) are the main data releases. There’s also the RBNZ’s monthly fx flow update on Thursday to watch”.
“In the US, the key data prints include the Dallas Fed survey on Mon, housing starts, house price data, the Richmond Fed and consumer sentiment (all Tue), and durable goods orders, Chicago PMI and Uni. of Michigan consumer confidence (Wed). The Thanksgiving holiday is on Thu, with limited (financial market) trade late Wed or Fri”.
“The risks remain skewed for US data outperformance, at least relative to market expectations. Our US data surprise index remains at quite depressed levels but should rise over the next month or so. This should keep US interest rates and the US dollar well supported”.
“Tapering is by no means a done deal at the December FOMC meeting but better data momentum relative to expectations should keep the market happy to buy the US dollar”.
Key Quotes:
“Trade balance (Wed), monthly business confidence (Thu) and building permits and money supply (both Fri) are the main data releases. There’s also the RBNZ’s monthly fx flow update on Thursday to watch”.
“In the US, the key data prints include the Dallas Fed survey on Mon, housing starts, house price data, the Richmond Fed and consumer sentiment (all Tue), and durable goods orders, Chicago PMI and Uni. of Michigan consumer confidence (Wed). The Thanksgiving holiday is on Thu, with limited (financial market) trade late Wed or Fri”.
“The risks remain skewed for US data outperformance, at least relative to market expectations. Our US data surprise index remains at quite depressed levels but should rise over the next month or so. This should keep US interest rates and the US dollar well supported”.
“Tapering is by no means a done deal at the December FOMC meeting but better data momentum relative to expectations should keep the market happy to buy the US dollar”.