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

GDP (QoQ) 

0.3% 

 

02:30

AUD

Home Loans (MoM) 

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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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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