AUD/USD Fundamental Analysis August 21, 2012 Forecast

Posted August 20, 2012 4:17 (GMT) | By FX Empire Analyst - Barry Norman | Print | Font Size
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Analysis and Recommendation:

The AUD/USD is trading at 1.0444 gaining back some of last week’s losses. Earlier in today’s session the Aussie was down as pressure from the USD weighed on commodity currencies, as the possibility of monetary stimulus in the US fades, on positive eco data, the USD has gained momentum.

This week will tell the story with additional housing data and durable goods in the lineup. There has been no supportive data for the Aussie with little on the eco calendar and little in the way of global news, or economic news expected this week.

The greenback rallied on the weekend, after the release of the Thomson Reuters/University of Michigan index of consumer sentiment, which rose to 73.6 in August, from 72.3 the previous month. This was the index’s highest position since May.

The release on Tuesday of minutes from the Reserve Bank of Australia’s August 7 meeting could be influential for the AUD.

FxEmpire provides in-depth analysis for each currency and commodity we review. Fundamental analysis is provided in three components. We provide a detailed monthly analysis and forecast at the beginning of each month. Then we provide more up to the data analysis and information in our weekly reports.

Economic Data August 20, 2012 actual v. forecast

(No release in for the AUD, NZD or the JPY on Monday morning)

Aug. 16

NZD

PPI Input (QoQ)

0.6%

-0.2%

0.3%

Aug. 17

USD

Michigan Consumer Sentiment

73.6

72.4

72.3

Upcoming Economic Events that affect the AUD, NZD, JPY and USD

Aug. 21

02:30

AUD

Monetary Policy Meeting Minutes