AUD/USD Fundamental Analysis October 1, 2012 Forecast

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Analysis and Recommendation:

The AUD/USD  is trading this morning at 1.0457 as the US dollar weakened on negative housing and durable goods reports yesterday. As the Chinese markets close for a weeklong holiday, traders are expecting the government to introduce a new round of stimulus which would be very positive for the Aussie.

A news report from the Shanghai Securities News fuelled speculation the Chinese government would announce measures to support equities.

The Australian dollar received further support as markets reacted positively to Spain’s 2013 budget, released overnight, which promised to meet the country’s deficit reduction through further spending cuts. The budget is expected to ease the path for a possible bailout from the European Central Bank to lower the country’s high borrowing costs.

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 September 28, 2012 actual v. forecast

Date

 

Currency

 

 

Event

Actual

 

Forecast

 

Previous

 

 

Sep. 28

 

KRW

 

 

South Korean Industrial Production (YoY) 

0.3%

 

0.4% 

 

0.2% 

   

 

 

KRW

 

 

South Korean Industrial Production (MoM) 

-0.7%

 

-0.6% 

 

-1.9% 

   

 

 

JPY

 

 

Unemployment Rate 

4.2%

 

4.3% 

 

4.3% 

 

 

 

 

JPY

 

 

Tokyo Core CPI (YoY) 

-0.4%

 

-0.3% 

 

-0.5% 

 

 

 

 

JPY

 

 

Industrial Production (MoM) 

-1.3%

 

-0.5% 

 

-1.0% 

 

 

 

 

JPY

 

 

Retail Sales (YoY) 

1.8%

 

-0.2% 

 

-0.8% 

 

 

 

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

Date

Time

Currency

Event

Forecast

Previous

Oct. 01

00:50

JPY

Tankan Large Manufacturers Index 

-3 

-1 

Government Bond Auction

Date Time Country 

Oct 01 10:00 Norway 

Oct 02 09:15 Austria 

Oct 02 09:30 Belgium 

Oct 02 09:30 UK 

Oct 02 14:30 UK 

Oct 03 09:10 Sweden 

Oct 03 10:00 Norway 

Oct 04 08:30 Spain 

Oct 04 08:50 France 

Oct 04 15:00 US 

Oct 05 15:30 Italy 

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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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