AUD/USD Fundamental Analysis August 3, 2012 Forecast

Posted August 02, 2012 5:49 (GMT) | By FX Empire Analyst - Barry Norman | Print | Font Size
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Analysis and Recommendation:

The AUD/USD is gaining momentum on two fronts this morning. Anticipation of monetary stimulus in the EU, and also on positive eco data. The Aussie Trade Balance reported well above the expected forecast compounded with retail sales reporting in well above forecast, the AUD have been able to fend off the growing strength of the USD. The Aussie is headed back to the 1.05 price level trading at 1.0481 and rising.

After the FOMC held monetary policy, the USD gained momentum especially against the commodity currencies, pushing the AUD and the NZD lower.

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 recent analysis and information in our weekly reports and we provide daily updates and outlooks

Economic Data August 2, 2012 actual v. forecast

Date

Currency

Event

Actual

Forecast

Previous

Aug. 02

JPY

10-Year JGB Auction

0.772%

0.836%

JPY

Monetary Base (YoY)

8.6%

6.2%

5.9%

NZD

ANZ Commodity Price Index (MoM)

-0.5%

-2.4%

AUD

Retail Sales (MoM)

1.0%

0.7%

0.8%

AUD

Trade Balance

0.01B

-0.35B

-0.31B

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

Date	Time	Currency	Event	Previous
Aug 3	12:30	USD	Non-Farm Employment Change	80K
	12:30	USD	Unemployment Rate	8.2%
	12:30	USD	Average Hourly Earnings m/m	0.3%
	14:00	USD	ISM Non-Manufacturing PMI	52.1

Government Bond Auctions

Date Time Country

Aug 06 09:10 Norway

Aug 07 00:30 Japan

Aug 07 09:15 Austria

Aug 07 14:30 UK

Aug 07 17:00 US

Aug 08 09:30 Germany

Aug 08 10:00 Norway

Aug 08 15:30 Italy

Aug 08 17:00 US

Aug 09 15:30 Italy

Aug 09 17:00 US

Aug 10 10:00 Belgium

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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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