Analysis and Recommendation: The AUD/USD declined this morning by just 2pips to fall below the 1.04 range trading at 1.0399. Global worries over the US
The AUD/USD declined this morning by just 2pips to fall below the 1.04 range trading at 1.0399. Global worries over the US financial disaster continues to shake markets as traders begin to return to safe havens as there seems to be no new negotiations taking place with Congress recessed for the holiday week, leaving very few days for US lawmakers to head off the Jan 1, 2013 budget cuts and tax changes. President Obama has called for a limited package that might push the deadline and stop these automatic budget cuts and tax changes, but Republicans are on recess and with the recent rebellion in the Congress when Mr. Boehner was forced to withdraw his “Plan B” when he learned that he did not have party support leaves the leadership under pressure as Mr. Boehner may not be able to continue to speak for all the Republicans.
Talks are continuing to come up with measures to avoid the so-called fiscal cliff – a series of tax hikes and spending cuts which will begin from January 1.
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 24, 2012 actual v. forecast
Date |
Time |
|
Currency |
|
Importance |
|
Event |
Actual |
|
Forecast |
|
Previous |
|
|
Dec. 24 |
08:00 |
|
TWD |
|
|
Taiwanese Industrial Production (YoY) |
|
|
5.40% |
|
4.56% |
|
||
|
23:50 |
|
JPY |
|
|
CSPI (YoY) |
|
|
-0.6% |
|
-0.7% |
|
Upcoming Economic Events that affect the AUD, NZD, JPY and USD
Global markets are closed for the Christmas Holiday; many will reopen on Wednesday while some countries are out for additional days. There is no eco data on the calendar for December 25th. We will not print any fundamental analysis on Christmas day and will return on December 26th. I would like to wish all of my readers an enjoyable holiday season.
Government Bond Auction
Date Time Country
Dec 26 01:30 Japan
Dec 27 10:10 Italy
Dec 28 10:10 Italy