AUD/USD Fundamental Analysis October 11, 2012 Forecast

Posted October 10, 2012 8:10 (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

AUD/USD Fundamental Analysis October 11, 2012 Forecast

Analysis and Recommendation:

The AUD/USD is trading at 1.0234 strengthening on news from China of a massive stimulus program initiated overnight. The Chinese central bank injects fresh liquidity into China’s financial system ($41 billion) via a daily operation, in an effort to stimulate economic growth. Asian stocks rallied on the China news. Meantime, European Union finance ministers are meeting in Luxembourg Tuesday to work on a plan for EU bank supervision. Reports said little progress is being made. Spain has yet to ask for formal EU bailout assistance, even though European Central Bank president Draghi said Tuesday the ECB is ready to implement its bond buying program should Spain as for assistance. The AUD is holding waiting for the release of unemployment numbers.

The Westpac Melbourne Institute Index of Consumer Sentiment, released on Wednesday, showed a rise by one per cent to 99.2 per cent for October. However, the survey has been below 100 – indicating more pessimistic than optimistic views about the economy – for eight months. Westpac chief economist Bill Evans said the result was disappointing, especially in light of the Reserve Bank of Australia’s (RBA) interest rate cut last week.

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 October 10, 2012 actual v. forecast

Date	Currency	Event	Actual	Forecast	Previous
Oct. 10	KRW	South Korean Unemployment Rate	3.1%	3.2%	3.1%
	AUD	Westpac Consumer Sentiment	1.00%		1.60%
	KRW	South Korean M2 Money supply	9.20%		9.00%
	EUR	German WPI (MoM)	1.3%	0.5%	1.1%
	JPY	Machine Tool Orders (YoY)	-3.0%		-2.7%
	EUR	Finnish Industry Output (MoM)	-1.40%		2.00%
	EUR	French Industrial Production (MoM)	1.5%	-0.2%	0.6%

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

Date	Time	Currency	Event	Forecast	Previous
Oct. 11	01:30	AUD	Employment Change	3.8K	-8.8K
	13:30	USD	Import Price Index (MoM)	0.7%	0.7%
	13:30	USD	Trade Balance	-44.0B	-42.0B
	13:30	USD	Initial Jobless Claims	370K	367K
	13:30	USD	Continuing Jobless Claims	3275K	3281K
	19:00	USD	Federal Budget Balance	-4.0B	-191.0B

Government Bond Auction

Date Time Country

Oct 11 09:10 Italy

Oct 11 09:10 Sweden

Oct 11 09:30 UK

Oct 11 15:00 US

Oct 11 17:00 US

Oct 12 09:30 Germany

Oct 12 10:00 Belgium

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