AUD/USD Fundamental Analysis August 6, 2012 Forecast

Get Forex buy/sell signals directly to your email and by SMS.
To learn more click here

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

 

Want to read more articles like this one?
Enter your e-mail address and read FX Empire content directly from your inbox.
 
We value your privacy. Your e-mail address will not be shared.
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

  View all of FX Empire Analyst - Barry Norman's Articles    
Share Your Thoughts: Post a Comment


Your email address will not be published.


include_once( __DIR__ . "/request_context.php");