AUD/USD Fundamental Analysis September 7, 2012, Forecast

Posted September 06, 2012 5:41 (GMT) | By FX Empire Analyst - Barry Norman | Print | Font Size
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Analysis and Recommendation:

The AUD/USD is trading at 1.0219 this morning, ahead of the “big” ECB statement.

Today, the Australian Bureau of Statistics (ABS) data showed that the unemployment rate fell to 5.1 per cent in August, down from 5.2 per cent the previous month.

Leaks ahead of the meeting indicate the ECB will unveil an unlimited bond-buying program in a bid to combat the continent’s sovereign debt crisis.

Markets are expecting Mr. Draghi to offer a lot more than a bond buying program.

Additional negative eco data from China, with a weakened service PMI, is also weighing on the Aussie.

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. 06

KRW

South Korean GDP (QoQ)

0.3%

0.4%

KRW

South Korean GDP (YoY)

2.3%

2.4%

AUD

Employment Change

-8.8K

5.0K

11.7K

AUD

Unemployment Rate

5.1%

5.3%

5.2%

JPY

30-Year JGB Auction

1.902%

1.848%

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

Date	Time	Currency	Event	Forecast	Previous
Sep. 07	02:30	AUD	Trade Balance	-0.30B	0.01B
	13:30	USD	Average Hourly Earnings (MoM)	0.2%	0.1%
	13:30	USD	Nonfarm Payrolls	124K	163K
	13:30	USD	Average Weekly Hours	34.5	34.5
	13:30	USD	Private Nonfarm Payrolls	142K	172K

Government Bond Auction

Date Time Country

Sep 07 15:30 Italy

Sep 10 09:30 Germany

Sep 10 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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