AUD/USD Fundamental Analysis October 8, 2012 Forecast

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Analysis and Recommendation:

The AUD/USD  is trading at 1.0264 gaining a few pips in early trading on Friday. Markets have had little reaction to the Bank of Japan announcement this morning hold rates and policy. Traders had expected another injection of stimulus.

The non-farm payrolls figures due on Friday would be an important event for the Aussie dollar and global sentiment. The data and its significance could be very interesting.

The implications for future monetary policy and the political situation should be interesting.

Investors were buoyed by European Central Bank president Mario Draghi affirming the bank’s support for the euro at Thursday’s monetary policy review and the minutes to the last Federal Open Market Committee meeting which showed the Fed won’t let its asset-buying program won’t be allowed to disrupt markets.

Traders are preparing for US non-farm payrolls, which are expected to show the world’s biggest economy added more than 100,000 jobs last month, with employment the major focus for the Federal Reserve in assessing the recovery.

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 7, 2012 actual v. forecast

Date

 

Currency

 

 

Event

Actual

Forecast

Previous

Oct. 05

 

AUD

 

 

AIG Construction Index 

30.9

 

32.2 

 

 

TWD

 

 

Taiwanese CPI (YoY) 

2.96%

2.80% 

3.43% 

 

 

PHP

 

 

Philippines CPI (MoM) 

-0.10%

 

0.80% 

 

 

JPY

 

 

Interest Rate Decision 

0.10%

0.10% 

0.10% 

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

Date

Time

Currency

Event

Previous

Oct. 08

22:00

NZD

NZIER Business Confidence 

-4 

Government Bond Auction

Date Time Country 

Oct 08 09:10 Norway 

Oct 08 15:30 Italy  

Oct 09 08:30 Holland 

Oct 09 09:30 UK 

Oct 09 14:30 UK 

Oct 09 17:00 US 

Oct 10 09:10 Italy  

Oct 10 09:10 Sweden 

Oct 10 09:30 Germany 

Oct 10 09:30 Swiss 

Oct 10 14:30 Sweden 

Oct 10 17:00 US 

 

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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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