AUD/USD Fundamental Analysis August 23, 2012 Forecast

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Analysis and Recommendation:

The AUD/USD is trading at 1.0454 as China’s economic problems weigh on the currency. Yesterday the Chinese Premier indicated that monetary stimulus would be offered, it is the question of when. Stimulus from China would support the AUD, one of its major trading partners. The Australian dollar has backed away from a previous high above 105 US cents, ahead of an important central bank release in the US.

Global factors are the main influence on the Aussie currency, ahead of an important release from the US Federal Open Market Committee.

Positive sentiment in the markets and risk on attitudes should help support the Aussie. After Chancellor Merkel and her party seems to ease their stance.

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 23, 2012 actual v. forecast

Date

 

Currency

 

 

 

Event

Actual

 

Forecast

 

Previous

Aug. 22

 

JPY

 

 

 

Trade Balance 

-0.33T

 

-0.46T 

 

-0.32T 

 

 

AUD

 

 

 

MI Leading Index (MoM) 

0.5%

 

 

 

0.9% 

 

 

TWD

 

 

 

Taiwanese Unemployment Rate 

4.25%

 

4.30% 

 

4.24% 

 

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

Date

Time

Currency

Event 

Forecast

Previous

Aug 23

7:30pm

AUD

RBA Gov Stevens Speaks

   
 

8:00pm

AUD

CB Leading Index m/m

 

0.4%

 

3:45am

JPY

BOJ Gov Shirakawa Speaks

   
 

8:30am

USD

Core Durable Goods Orders m/m

0.5%

-1.4%

 

Aug 24

1:00am

AUD

CB Leading Index m/m

   
 

8:45am

JPY

BOJ Gov Shirakawa Speaks

 

0.4%

 

1:30pm

USD

Core Durable Goods Orders m/m

0.5%

-1.4%

 

1:30pm

USD

Durable Goods Orders m/m

2.8%

1.3%

 

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About: FX Empire Analyst - Barry Norman

Barry produces a private Daily Market Review newsletter that is distributed around the globe to over 25,000 subscribers and recently published a book on Options Trading that is available from amazon.com

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