AUD/USD Fundamental Analysis September 28, 2012 Forecast

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Analysis and Recommendation:

The AUD/USD  is trading at 1.0403 after getting a boost on news of additional stimulus from the PBoC.

The People’s Bank of China has injected a further 180 billion yuan ($A27.4 billion) into the Chinese financial system through reverse repo operations, CNBC reports. With the 290 billion yuan already added, it takes the total gross amount injected for the week to 470 billion yuan.

This amount is offset by 107 billion yuan worth of reverse repo bonds reaching maturity, with the effective cash injection worth 365 billion yuan.

According to the news agency, the net cash injection is the largest weekly investment on record and anticipates the nation’s up-coming week long national holiday and the the end of the third quarter.

This move is a big positive for the AUD, which is managing to trade in positive numbers even with the US dollar adding strength. Although the dollar weakened some as new home sales printed below forecast yesterday.

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 27, 2012 actual v. forecast

Date

 

Currency

 

 

Event

Actual

Previous

 

 

Sep. 27

 

NZD

 

 

Business Confidence 

17.00

19.50 

 

 

 

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

Date

Time

Currency

Event

Forecast

Previous

Sep. 28 

00:30

JPY

Tokyo Core CPI (YoY) 

-0.3%

-0.5%

 

00:50

JPY

Industrial Production (MoM) 

-0.5%

-1.0%

 

00:50

JPY

Retail Sales (YoY) 

-0.2%

-0.8%

 

13:30

USD

Core PCE Price Index (MoM) 

0.1%

0.0%

 

13:30

USD

Personal Spending (MoM) 

0.5%

0.4%

 

14:45

USD

Chicago PMI 

52.9

53.0

 

14:55

USD

Michigan Consumer Sentiment 

78.9

79.2

Government Bond Auction

Date Time Country 

Oct 01 10:00 Norway 

Oct 02 09:15 Austria 

Oct 02 09:30 Belgium 

Oct 02 09:30 UK 

Oct 02 14:30 UK 

Oct 03 09:10 Sweden 

Oct 03 10:00 Norway 

Oct 04 08:30 Spain 

Oct 04 08:50 France 

Oct 04 15:00 US 

Oct 05 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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