AUD/USD Fundamental Analysis August 8, 2012 Forecast

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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

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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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