Analysis and Recommendation: The AUD/USD is trading at 1.0545 adding 17pts this morning after the release of stronger HSBC manufacturing data. Today’s
Analysis and Recommendation:
The AUD/USD is trading at 1.0545 adding 17pts this morning after the release of stronger HSBC manufacturing data. Today’s report showed a continued expansion in the manufacturing sector and an increase over last month. But the market would now mainly focus on US political discussions about the so called `fiscal cliff’ of tax hikes and spending cuts due to apply from 2013. Now quantitative easing is behind markets the only real thing for markets to focus on now is the fiscal cliff for the next week or so ahead of the holidays.
A business report that showed the local currency is expected to weaken, but remain above parity with the US dollar next year, according to a survey of Australian businesses. The Commonwealth Bank latest Aussie dollar barometer – which measures companies’ expectations of the currency – shows that both importers and exporters expect the currency to start 2013 strongly, before slowly depreciating.
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 December 14, 2012 actual v. forecast
Date |
|
Currency |
|
|
Event |
Actual |
|
Forecast |
|
Previous |
|
|
Dec. 14 |
|
CNY |
|
|
Chinese HSBC Manufacturing PMI |
50.90 |
|
|
|
50.50 |
|
|
|
|
JPY |
|
|
Industrial Production (MoM) |
1.6% |
|
1.8% |
|
1.8% |
|
|
|
|
SGD |
|
|
Singaporean Retail Sales (YoY) |
-1.0% |
|
-1.5% |
|
2.6% |
||
|
|
INR |
|
|
Indian WPI (YoY) |
7.24% |
|
7.57% |
|
7.45% |
|
Upcoming Economic Events that affect the AUD, NZD, JPY and USD
Date |
Time |
Currency |
Event |
Forecast |
Previous |
Dec. 17 |
13:30 |
USD |
-0.5 |
-5.2 |
|
|
14:00 |
USD |
|
3.3B |
Government Bond Auction
Date Time Country
Dec 17 10:10 Norway
Dec 17 18:00 US
Dec 18 01:30 Japan
Dec 18 09:30 Spain
Dec 18 10:10 Greece
Dec 18 18:00 US
Dec 19 18:00 US
Dec 20 10:30 UK
Dec 20 16:30 Italy
Dec 20 18:00 US
Dec 21 16:30 Italy