AUD/USD Fundamental Analysis August 8, 2012 Forecast

Posted August 07, 2012 5:46 (GMT) | By FX Empire Analyst - Barry Norman | Print | Font Size
Add a comment

Category:

Fundamental Reports

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

Analysis and Recommendation:

The AUD/USD is trading at1.0581 as it remains strong in the risk off trading mode. As investors continue to move into more risk assets, the AUD has been seen as a good choice, with its high interest rate, its AAA rating and strong economy, the Aussie is being seen as a possible safe haven currency also. But it is a solid investment.

China will be releasing all their July eco data on Thursday and Friday which might weigh on the Aussie, but the possibility of monetary stimulus from the Chinese is a strong positive for the AUD.

Recent eco data has been very positive in Oz.

With US stocks and commodity prices firming, appetite for commodity currencies was stoked ahead of the Reserve Bank of Australia’s monetary policy review, where policy makers are expected to keep the target cash rate unchanged at 3.5 per cent.

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 7, 2012 actual v. forecast

Date

Currency

Event

Actual

Forecast

Previous

Aug. 07

GBP

BRC Retail Sales Monitor (YoY)

0.1%

-0.2%

1.4%

AUD

AIG Construction Index

32.6

34.8

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

Date	Time	Currency	Event	Previous
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

Government Bond Auctions

Date Time Country

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

Aug 13 09:10 Italy

Aug 13 09:10 Norway

Aug 13 09:30 Germany

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