AUD/USD Fundamental Analysis September 17, 2012, Forecast

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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% 

 

-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.

Date

Time

 

Currency

 

Importance

 

Event

Actual

 

Forecast

 

Previous

 

 

 

13:30

 

USD

 

 

 

Core PPI (MoM) 

0.2%

 

0.2% 

 

0.4% 

 

 

 

13:30

 

USD

 

 

 

PPI (MoM) 

1.7%

 

1.1% 

 

0.3% 

 

 

 

13:30

 

USD

 

 

 

Initial Jobless Claims 

382K

 

370K 

 

367K 

   

 

13:30

 

USD

 

 

 

Continuing Jobless Claims 

3283K

 

3318K 

 

3332K 

   

 

13:30

 

USD

 

 

 

PPI (YoY) 

2.0%

 

1.4% 

 

0.5% 

 

 

 

13:30

 

USD

 

 

 

Core PPI (YoY) 

2.5%

 

2.6% 

 

2.5% 

 

 

 

17:30

 

USD

 

 

 

Interest Rate Decision 

0.25%

 

0.25% 

 

0.25% 

 

 

 

17:30

 

USD

 

 

 

FOMC Statement 

 

 

 

 

 

 

 

 

19:00

 

USD

 

 

 

Federal Budget Balance 

-191.0B

 

-155.0B 

 

-69.6B 

 

 

 

 

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

Date

Time

Currency

 

Event

 

Forecast

Previous

 Sep. 18

23:45

NZD

 

Current Account 

 

-1.66B 

-1.31B 

Government Bond Auction

Date Time Country 

Sep 17 09:10 Slovakia

Sep 17 10:00 Norway 

Sep 18 08:30 Spain 

Sep 18 09:10 Greece 

Sep 18 09:30 Belgium 

Sep 19 09:10 Sweden 

Sep 19 09:30 Germany 

Sep 19 09:30 Portugal 

Sep 19 10:00 Norway 

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About: FX Empire Analyst - Barry Norman

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