AUD/USD Fundamental Analysis October 23, 2012 Forecast

Posted October 22, 2012 5:54 (GMT) | By FX Empire Analyst - Barry Norman | Print | Font Size
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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

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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