AUD/USD Fundamental Analysis October 23, 2012 Forecast

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AUD/USD Fundamental Analysis October 23, 2012 Forecast

AUD/USD Fundamental Analysis October 23, 2012 Forecast

Analysis and Recommendation:

The AUD/USD is trading at 1.0321 with a slight dip in Monday morning trading as traders watch for Tuesday’s AU CPI release; the pair will take its lead most likely from the equity market. Regional bourses are expected to trade lower following Friday’s steep losses on the Dow and NYSE, and a sharp fall in copper is also weighing on AUD sentiment. 

The Asian markets are also showing disappointment in the outcome of the EU Summit, with all the news and press the week before, traders were sure that the Spanish situation would be handled and there would be an outcome for Greece, but once again, EU Ministers dealt with long term goals and left short term hanging. 

Also a drop in the metals pack especially copper is weighing on the Aussie as it is dependent on its mineral resources exports.

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 22, 2012 actual v. forecast

Date

 

Currency

 

 

Event

Actual

 

Forecast

 

Previous

Oct. 22

 

JPY

 

 

Trade Balance 

-0.98T

 

-0.74T 

 

-0.46T 

 

 

JPY

 

 

BoJ Governor Shirakawa Speaks 

 

 

 

 

 

 

 

TWD

 

 

Taiwanese Unemployment Rate 

4.30%

 

4.30% 

 

4.29% 

 

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

Date

Time

Currency

Event

Forecast

Previous

Oct. 24

01:30

AUD

CPI (QoQ) 

1.1%

0.5%

 

01:30

AUD

Trimmed Mean CPI (QoQ) 

0.6%

0.5%

 

02:45

CNY

Chinese HSBC Manufacturing PMI 

 

47.90

 

15:00

USD

New Home Sales

385K

373K

 

21:00

NZD

Interest Rate Decision 

2.50%

2.50%

Oct. 25 

22:45

NZD

Trade Balance 

-825M

-789M

Oct. 26 

00:30

JPY

Tokyo Core CPI (YoY) 

-0.5%

-0.4%

Government Bond Auction

Date Time Country 

Oct 23 08:30 Spain 

Oct 23 14:30 UK 

Oct 23 17:00 US 

Oct 24 09:10 Sweden 

Oct 24 09:30 Germany 

Oct 24 14:30 Sweden 

Oct 24 15:30 Italy  

Oct 24 16:30 US 

Oct 25 00:30 Japan 

Oct 25 09:10 Sweden 

Oct 25 15:30 Italy  

Oct 25 17:00 US 

Oct 26 09:10 Italy

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About: FX Empire Analyst - Barry Norman

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