AUD/USD Fundamental Analysis August 6, 2012 Forecast

Posted August 03, 2012 5:06 (GMT) | By FX Empire Analyst - Barry Norman | Print | Font Size
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Analysis and Recommendation:

The AUD/USD remains relatively strong but was unable to hold above the 1.05 range as the USD picked up momentum, after the FOMC offered no stimulus and the ECB disappointed markets.

Australia has been reported better than expected eco data over the past week, which is helping to support the currency.

Risk aversion and anti european sentiment has returned to the markets, benefitting the AUD.

Traders now wait for today’s all important US nonfarm payroll data.

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. 03

AUD

AIG Services Index

46.5

48.8

CNY

Chinese Non-Manufacturing PMI

55.60

56.70

CNY

Chinese HSBC Services PMI

53.10

52.30

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

Date	Time	Currency	Event	Forecast	Previous
Aug 6	1:30	AUD	ANZ Job Advertisements m/m		-1.2%
	22:45	NZD	Labor Cost Index q/q		0.5%
Aug 7	4:30	AUD	Cash Rate	3.50%	3.50%
	4:30	AUD	RBA Rate Statement
	23:50	JPY	Current Account		0.28T
Aug 8	1:30	AUD	Home Loans m/m		-1.2%
	12:30	USD	Prelim Nonfarm Productivity q/q		-0.9%
	12:30	USD	Prelim Unit Labor Costs q/q		1.3%
	14:30	USD	Crude Oil Inventories
	22:45	NZD	Employment Change q/q		0.4%
	22:45	NZD	Unemployment Rate		6.7%
	23:50	JPY	Core Machinery Orders m/m		-14.8%
Aug 9	1:30	AUD	Employment Change		-27.0K
	1:30	AUD	Unemployment Rate		5.2%
	12:30	USD	Trade Balance		-48.7B
	12:30	USD	Unemployment Claims
Aug 10	1:30	AUD	RBA Monetary Policy Statement
	12:30	USD	Import Prices m/m		-2.7%
	18:00	USD	Federal Budget Balance		-59.7B

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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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