AUD/USD Fundamental Analysis October 9, 2012 Forecast

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AUD/USD Fundamental Analysis October 9, 2012 Forecast

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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