AUD/USD Fundamental Analysis August 22, 2012 Forecast

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Analysis and Recommendation:

The AUD/USD gained momentum on Monday and traded above the 1.05 level again, but dipped ahead of the RBA meeting minutes. The pair is trading at 1.0481 regaining momentum after the release showed a positive view of the economy. The main event for markets this week would be RBA Governor Glenn Stevens’ speech to the House of Representatives Standing Committee on Economics on Friday.

Weighing on the Aussie is the FOMC minutes due in the US tomorrow and the possibility of monetary stimulus from the Chinese government. Stimulus would be a positive for the Aussie in terms of business, trade and exports but also in the lowering value of the USD.

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 21, 2012 actual v. forecast

Date

 

Currency

 

 

 

Event

Actual

 

Forecast

 

Previous

 

 

Aug. 21

 

AUD

 

 

 

Monetary Policy Meeting Minutes 

 

 

 

 

 

 

 

 

 

NZD

 

 

 

Credit Card Spending (YoY) 

0.1%

 

 

 

3.9% 

   

 

 

NZD

 

 

 

Inflation Expectations (QoQ) 

2.3%

 

 

 

2.4% 

 

 

 

 

JPY

 

 

 

All Industries Activity Index (MoM) 

0.2%

 

0.3% 

 

-0.2% 

   

 

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

Aug. 22

00:50

 

JPY

 

 

Trade Balance 

 

-0.46T 

-0.30T 

 

 

 

15:00

 

USD

 

 

Existing Home Sales 

 

4.52M 

4.37M 

 

 

 

19:00

 

USD

 

 

FOMC Meeting Minutes 

         

 

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About: FX Empire Analyst - Barry Norman

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