AUD/USD Fundamental Analysis July 24, 2012 Forecast

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Analysis and Recommendation:

The AUD/USD is exchanging this morning at 1.0312 dipping a bit against a strong USD. The USD has gained momentum, as the Eurozone collapses. Over the weekend it was announced that the EU had suspended funding to Greece, leaving markets in turmoil. On Friday, Spain’s borrowing costs skyrocketed.

On this news the euro has tumbled to record lows breaking below 1.21 this morning. As investors run for the hills the JPY and the USD are adding momentum.

This morning in OZ, the PPI reported in well over forecast, adding some positive strength to the Aussie.

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 July 23, 2012 actual v. forecast

Date

 

Currency

 

 

 

Event

Actual

 

Forecast

 

Previous

 

 

Jul. 23

 

TWD

 

 

 

Taiwanese Unemployment Rate 

4.24%

 

4.30% 

 

4.25% 

 

 

 

 

AUD

 

 

 

PPI (QoQ) 

0.5%

 

0.3% 

 

-0.3% 

 

 

 

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

Date

Time

Currency

 Event

Previous

Jul 24

13:00

USD

Flash Manufacturing PMI

52.5

22:45

NZD

Trade Balance

301M

23:50

JPY

Trade Balance

-0.66T

Jul 25

0:00

AUD

CB Leading Index m/m

-1.4%

1:30

AUD

CPI q/q

0.1%

1:30

AUD

Trimmed Mean CPI q/q

0.3%

14:00

USD

New Home Sales

369K

14:30

USD

Crude Oil Inventories

 

21:00

NZD

Official Cash Rate

2.50%

21:00

NZD

RBNZ Rate Statement

 

Jul 26

0:10

JPY

BOJ Gov Shirakawa Speaks

 

12:30

USD

Core Durable Goods Orders m/m

0.7%

12:30

USD

Unemployment Claims

 

14:00

USD

Pending Home Sales m/m

5.9%

23:30

JPY

Tokyo Core CPI y/y

-0.6%

23:50

JPY

Retail Sales y/y

3.6%

Jul 27

12:30

USD

Advance GDP q/q

1.9%

13:55

USD

Revised UoM Consumer Sentiment

72.0

 

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About: FX Empire Analyst - Barry Norman

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