AUD/USD Fundamental Analysis September 7, 2012, Forecast
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Analysis and Recommendation:
The AUD/USD is trading at 1.0319. Markets reacted positively to Mr. Draghi’s “Outright Money Purchase” program for buying bonds from cash strapped governments to keep borrowing rates lower. These sterilized purchases and program were what the markets expected and wanted.
The USD dipped after lackluster unemployment data gave more support to the hopes of fed stimulus come September 13th.
The Australian trade deficit widened this morning, but markets did not pay much attention.
The move by the ECB should provide a boost for euro zone economies, which was good news for China – Australia’s biggest trading partner. China has around 40 per cent of its exports directed to the euro zone, so, if things pick up in Europe, growth and activity should improve in China and that should be a positive for Australia.
The value of Australian exports fell by 3.0 per cent in July, contributing to a trade deficit of $556 million, the Australian Bureau of Statistics said on Friday.
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 6, 2012 actual v. forecast
|
Date |
|
Currency |
|
|
Event |
Actual |
|
Forecast |
|
Previous |
|
|
|
Sep. 07 |
|
PEN |
|
|
Peruvian Interest Rate Decision |
4.25% |
|
4.25% |
|
4.25% |
|
|
|
|
|
AUD |
|
|
AIG Construction Index |
32.2 |
|
|
|
32.6 |
|
|
|
|
|
AUD |
|
|
Trade Balance |
-0.56B |
|
-0.30B |
|
-0.23B |
||
|
|
|
MYR |
|
|
Malaysian Trade Balance |
3.60B |
|
9.10B |
|
9.20B |
Upcoming Economic Events that affect the AUD, NZD, JPY and USD
|
Date |
Time |
Currency |
Event |
Previous |
|
Sep. 10 |
00:50 |
JPY |
0.3% |
|
|
|
02:30 |
AUD |
1.3% |
Government Bond Auction
Date Time Country
Sep 10 09:30 Germany
Sep 10 15:30 Italy
Sep 11 00:30 Japan
Sep 11 08:30 Holland
Sep 11 09:10 Greece
Sep 11 09:30 UK
Sep 11 14:30 UK
Sep 11 17:00 US
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