NZD/USD Technical Analysis
2013-11-26 15:00 GMT (or 16:00 MQ MT5 time) | [USD - Consumer Confidence]
if actual > forecast = good for currency (for USD in our case)
U.S. Consumer Confidence Unexpectedly Continues To Deteriorate In November
After reporting a sharp drop in U.S. consumer confidence in the
previous month, the Conference Board released a report on Tuesday
showing that confidence unexpectedly saw further downside in November.
The Conference Board said its consumer confidence index dipped to 70.4 in November from an upwardly revised 72.4 in October.
decrease came as a surprise to economists, who had expected the index
to climb to 72.9 from the 71.2 originally reported for the previous
2013-11-26 21:45 GMT (or 22:45 MQ MT5 time) | [NZD - Trade Balance]
New Zealand Has NZ$168 Million Trade Deficit In October
New Zealand posted a merchandise trade deficit of NZ$168 million in
October, Statistics New Zealand said on Wednesday - marking the smallest
deficit for an October month in almost 20 years.
figure beat forecasts for a deficit of NZ$350 million following the
downwardly revised shortfall of NZ$216 million in September (originally a
NZ$199 million deficit).
"The low trade deficit was due to
exported goods recording the highest value for an October month,"
industry and labor statistics manager Louise Holmes-Oliver said. "It was
the highest value for exported goods for any month since March 2013."
2013-11-27 09:30 GMT (or 10:30 MQ MT5 time) | [GBP - Trade Balance]
if actual > forecast = good for currency (for GBP in our case)
U.K. Q3 Growth Confirmed At 0.8%
The U.K. economy
expanded 0.8 percent in the third quarter from the previous quarter, in
line with the initial estimate published on October 25.
domestic product grew at the fastest pace since the second quarter of
2010, and follows 0.7 percent growth in the second quarter of 2013, data
from the Office for National Statistics showed Wednesday.
According to second estimates, GDP advanced 1.5 percent year-on-year, as initially estimated, in the third quarter.
Trading the News: U.S. Durable Goods Orders (based on dailyfx article)
Demands for U.S. Durable Goods are expected to contract 2.0% in October
and a marked slowdown in private sector consumption may drag on the
dollar as it limits the Fed’s scope to taper the asset-purchase program
at the December 17-18 meeting.
Time of release: 11/27/2013 13:30 GMT, 8:30 EST
Primary Pair Impact: EURUSD
Forecast: -3.0% to 2.0%
Why Is This Event Important:
With the ongoing discussion at the Fed to scale back on quantitative
easing, data pointing to a slower recovery may prompt the central bank
to undermine the taper-timeline laid out by Chairman Ben Bernanke, and
the committee may present a greater argument to carry its highly
accommodative policy stance into 2014 should the fundamental
developments coming out of the U.S. economy dampen the outlook for
growth and inflation.Potential Price Targets For The Release
Although U.S. Durable Goods orders beat estimates of 2.3% coming in at
3.7%, Ex Transport and Cap Orders Nondef Ex Air missed estimates by over
2%. In the ‘bad news is good news’ psyche, EUR/USD saw some chop before
heading higher as the trading week came to a close.
Technical Analysis Charts for Gold, Silver, Platimun and Palladium (based on kitco charts)
Trading the News: German Unemployment Change (based on dailyfx article)
Time of release: 11/28/2013 8:55 GMT, 3:55 EST
Primary Pair Impact: EURUSD
Forecast: 0K to 2K
Why Is This Event Important:
With the European Central Bank’s (ECB) December 5 meeting quickly
approaching, a further deterioration in the growth outlook may put
increased pressure on the Governing Council to take more unprecedented
steps, and the policy outlook may become a growing proponent to drive
the Euro lower as President Mario Draghi looks to negative deposit
rates.Potential Price Targets For The Release
How To Trade This Event Risk
2013-11-28 00:00 GMT (or 01:00 MQ MT5 time) | [NZD - Business Confidence]
if actual > forecast = good for currency (for NZD in our case)
New Zealand Business Confidence Surges In November - ANZ
An index measuring business
confidence in New Zealand spiked to a score of 60.5 in November, the
latest survey from ANZ Bank revealed on Thursday - touching a near
The headline figure was up sharply from 53.2 in October.
A score above 50 means expansion or optimism in a sector, while a reading below signals contraction or pessimism.
the individual components of the survey, the activity outlook was
unchanged at 47.1, while profits climbed to 37.3 from 28.9 in the
2013-11-28 08:00 GMT (or 09:00 MQ MT5 time) | [Spain - GDP]
if actual > forecast = good for currency (for EUR in our case)
Spanish Q3 GDP Growth Confirmed At 0.1%
The Spanish economy
exited recession in the third quarter of 2013 with the gross domestic
product expanding 0.1 percent sequentially, final data from the
statistical office Ine revealed Thursday.
This follows a 0.1 percent contraction in the second quarter and a 0.4 percent fall in the first quarter.
an annual basis, the economy remained in negative territory. The GDP
fell 1.1 percent year-on-year in the third quarter. This was revised
from a 1.2 percent contraction reported initially. In the second
quarter, GDP was down 1.6 percent.
Technical Analysis for AUDUSD (based on Price & Time: AUD/USD Correction or Reversal? article)
MetaTrader Trading Platform Screenshots
AUDUSD, M5, 2013.11.29
MetaQuotes Software Corp., MetaTrader 5, Demo
AUD/USD has rebounded sharply from just above the key support zone we
highlighted on Tuesday. With the .9330 to .9360 area marking a
convergence of several key Gann levels including the 7th square root
relationship of the October high, the 2x1 Gann angle line of the year’s
closing low and the 2nd square root relationship of the year intraday
low it is a natural stopping point. Just how important this
counter-trend move is will depend on the price action over the next few
sessions. If Aussie can gain traction over .9170 on a daily close basis
it likely sets up a stronger correction – perhaps back towards the
neckline of the Head & Shoulders pattern. A potential hindrance to
further upside is the short-term cyclical picture which is not
particularly positive on the exchange rate as a minor turn window is
seen today. A clear move under .9030 is required to signal that the
broader downtrend is resuming.