AUD/USD Fundamental Analysis September 21, 2012, Forecast

Posted September 20, 2012 5:21 (GMT) | By FX Empire Analyst - Barry Norman | Print | Font Size
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Analysis and Recommendation:

The AUD/USD declined also following its cousins around the globe. The USD gained strength late yesterday after positive housing data in the US, with a day of limited data releases and light news. The AUD is trading at 1.0408

Also the BoJ stimulus package, which was positive for the markets, was quickly forgotten, even though stimulus in Japan is a positive factor for the AUD a major trading partner of Japan.

Overall the markets are reacting to worries out of China on poor eco data. Today the HSBC manufacturing PMI showed continuing contraction in the manufacturing sector. Traders were hoping for something more positive, after all the assistance and programs launched by the PBoC to stimulate growth.

Markets are slowly turning negative, as it seems that the global stimulus is not having the positive affect that was hoped, although traders all want instant gratification and stimulus plans help in the near term, but not overnight.

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 20, 2012 actual v. forecast

Date

Currency

Event

Actual

Forecast

Previous

Sept 20

NZD

GDP (QoQ)

0.6%

0.3%

1.0%

JPY

Trade Balance

-0.47T

-0.37T

CNY

Chinese HSBC Manufacturing PMI

47.80

47.60

JPY

All Industries Activity Index (MoM)

-0.6%

-0.5%

0.3%

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

(only tier 3 regional data)

Date	Time	Currency	Event	Previous
Sept 21	07:45	NZD	Visitor Arrivals (MoM)	-3.4%
	09:00	AUD	CB Leading Index (MoM)	0.2%
	12:00	NZD	Credit Card Spending (YoY)	0.1%
	20:30	INR	Indian FX Reserves, USD	292.04B
	20:30	INR	Indian Bank Loan Growth	16.70%
	23:30	USD	ECRI Weekly Annualized (WoW)	2.10%

Government Bond Auction

Date Time Country

Sep 21 15:30 Italy

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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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