AUD/USD Fundamental Analysis October 9, 2012 Forecast

Posted October 08, 2012 5:39 (GMT) | By FX Empire Analyst - Barry Norman | Print | Font Size
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AUD/USD Fundamental Analysis October 9, 2012 Forecast

Analysis and Recommendation:

The AUD/USD continues to show weakness trading this morning at 1.0159. The Australian dollar has been dogged recently by worries about a slowdown in China, Australia’s biggest export market. Although earlier today the Chinese HSBC services PMI reported in at 54.30 a large increase from last month. Australia’s dollar slid to the lowest level in almost three months before a report this week that may show unemployment increased, fueling speculation that the Reserve Bank will reduce its key rate next month. Australia’s unemployment rate probably climbed to 5.3 percent last month from 5.1 percent in August, according to the median estimate of economists surveyed by Bloomberg News. Payrolls probably increased by 5,000 in September from the previous month, when they fell by 8,800, the survey showed.

Australian jobs advertised in newspapers and on the Internet fell in September for a sixth-straight month, declining 2.8 percent

The Aussie weakened versus most of its 16 major counterparts after Treasurer Wayne Swan said yesterday that reduced interest rates will help Australia weather deteriorating conditions in the world economy.

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 8, 2012 actual v. forecast

Date	Currency	Event	Actual	Previous
Oct. 08	AUD	RBA Governor Stevens Speaks
	AUD	ANZ Job Advertisements (MoM)	-2.80%	-2.40%
	CNY	Chinese HSBC Services PMI	54.30	52.00

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

Date	Time	Currency	Event	Forecast	Previous
Oct. 09	01:30	AUD	NAB Business Confidence		-2
Oct. 11	01:30	AUD	Employment Change	3.8K	-8.8K

Government Bond Auction

Date Time Country

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

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

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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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