Analysis and Recommendation: The AUD/USD dipped farther this morning to trade at 1.0477 coming off of the 1.05 price just a few days ago, as businesses
The AUD/USD dipped farther this morning to trade at 1.0477 coming off of the 1.05 price just a few days ago, as businesses began to complain of the effects of the strong Aussie. The Australian dollar is lower along with other risk currencies due to concerns about negotiations in the United States to avert the so-called fiscal cliff.
The Australian economy is very dependent on its trade with the US and US tourism, that anything has a negative effect on the Aussie.
Australia’s treasurer has stepped away from his government’s promise to return the budget to surplus in the current fiscal year, blaming lower than predicted company tax revenue and the strong Australian dollar for the nation’s worsening financial position.
Wayne Swan, who is also acting prime minister, announced the probable deficit in the year ending June 30, 2013, after the Finance Department announced on Thursday that tax receipts for the year to October were 112 billion Australian dollars ($117 billion) — almost AU$4 billion below the government’s forecast.
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 20, 2012 actual v. forecast
Date |
|
Currency |
|
|
Event |
Actual |
|
Forecast |
|
Previous |
|
|
|
|
NZD |
|
|
GDP (QoQ) |
0.2% |
|
0.4% |
|
0.3% |
||
|
|
NZD |
|
|
Business Confidence |
22.70 |
|
|
|
26.40 |
|
|
|
|
AUD |
|
|
RBA Bulletin |
|
|
|
|
|
|
|
|
|
JPY |
|
|
Interest Rate Decision |
0.10% |
|
0.10% |
|
0.10% |
|
Upcoming Economic Events that affect the AUD, NZD, JPY and USD
Date |
Time |
|
Currency |
|
|
Event |
Actual |
|
Forecast |
|
Previous |
|
|
Dec. 21 |
01:45 |
|
NZD |
|
|
Visitor Arrivals (MoM) |
|
|
|
|
-1.7% |
|
|
|
04:01 |
|
GBP |
|
|
GfK Consumer Confidence |
|
|
-25 |
|
-22 |
|
|
|
06:00 |
|
NZD |
|
|
Credit Card Spending |
|
|
|
|
-0.9% |
|
|
|
09:00 |
|
JPY |
|
|
BoJ Monthly Report |
|
|
|
|
|
|
Government Bond Auction
Date Time Country
Dec 21 16:30 Italy