AUD/USD Fundamental Analysis July 17, 2012 Forecast

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Analysis and Recommendation:

The AUD/USD is trading flat today, at 1.0225 after rebounding on Friday.

Chinese GDP data released on Friday showed growth of 7.6 per cent in the second quarter of 2012 – printing at market’s expectations, even though it was the slowest pace of growth in three years.

There were also some comments from the Chinese premier (Wen Jiabao), who warned that momentum for a rebound hasn’t been established yet, which has upset traders.

“But we think that given the recent rate cuts, and the scope for more fiscal policy, it’s likely that we’ve seen the bottom of the Chinese cycle, and we should see its economy re-accelerate over the second half of the year.”

With little domestic data due on Monday, the market would be watching for an announcement of economic forecasts from the International Monetary Fund (IMF) on Monday night. Japanese markets are closed for a local holiday.

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.

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

Date

Time

Currency

 Event

Previous

Jul 17

1:30

AUD

New Motor Vehicle Sales m/m

2.4%

9:15

ALL

G7 Meetings

 

12:30

USD

CPI m/m

-0.3%

13:00

USD

TIC Long-Term Purchases

25.6B

13:15

USD

Capacity Utilization Rate

79.0%

13:15

USD

Industrial Production m/m

-0.1%

Jul 18

0:30

AUD

MI Leading Index m/m

0.5%

12:30

USD

Building Permits

0.78M

12:30

USD

Housing Starts

0.71M

14:30

USD

Crude Oil Inventories

-4.7M

Jul 19

1:30

AUD

NAB Quarterly Business Confidence

-1

12:30

USD

Unemployment Claims

 

14:00

USD

Existing Home Sales

4.55M

14:00

USD

Philly Fed Manufacturing Index

-16.6

Jul 20

1:30

AUD

Import Prices q/q

-1.2%

 

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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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