AUD/USD Fundamental Analysis September 17, 2012, Forecast

Posted September 14, 2012 5:11 (GMT) | By FX Empire Analyst - Barry Norman | Print | Font Size
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Analysis and Recommendation:

The AUD/USD broke above the 1.05 level to trade at 1.0579 heading towards 1.06 on Friday morning. The U.S. dollar fell sharply today following the Federal Reserve’s announcement of an open-ended Quantitative Easing program.

The Australian dollar has rallied to a fresh one-month high amid optimism about a new stimulus package in the US. The level is the Aussie’s highest level in more than a month.

The currency rallied more than one US cent early on Friday morning after the US Federal Reserve announced an open-ended scheme to buy $40 billion worth of mortgage-backed securities a month.

It said the program would continue until the country’s economy improved and its flagging jobs market strengthened.

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 September 14, 2012 actual v. forecast

Date

Time

Currency

Importance

Event

Actual

Forecast

Previous

Sep. 14

05:30

JPY

Industrial Production (MoM)

-1.0%

-1.2%

Economic Data September 13, 2012 actual v. forecast for the US, since markets were too focused on the FOMC, it is important to look at the entire picture.