AUD/USD Fundamental Analysis January 31, 2013 Forecast

Analysis and Recommendation:

The AUD/USD is trading at 1.0468 pretty flat today, as the US dollar is also flat ahead of announcements due later today from the US Federal Reserve. AUD gained yesterday, adding 0.3% following the release of better than expected confidence data. Near term support for AUDUSD has been found above 1.04, following four consecutive sessions of decline that have left it trading at the center of a two month range between 1.03 and 1.06. Second tier data releases are likely to provide for movement ahead of next Tuesday’s RBA decision, where the statement tone will be scrutinized for indications of a dovish bias following softer inflation and employment data earlier this month. There remains the possibility that Glenn Stevens will drop the interest rate one more time. The RBA is set to meet on February 5 to decide its rate position – it previously cut the cash rate by 25 percentage points to three per cent at its December meeting.

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 January 30, 2013 actual v. forecast

 

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

Upcoming Government Bond

Date Time Country 

Jan 31 01:30 Japan 

Jan 31 10:10 Sweden