AUD/USD Fundamental Analysis – June 12, 2015 – Forecast

Analysis and Recommendation:

The AUD/USD soared 34 points to trade at 0.7772 after employment data reported well above forecast and unemployment tumbled lower than expected.  The Aussie traded at a one week high after the unemployment rate fell to its lowest level in a year. The unemployment rate dropped to a seasonally adjusted 6.0 per cent in May from 6.1 per cent in April, official figures show.

Jobs growth was 42,000 in the month, much better than market expectations of a rise of 10,000. After the figures were released the Australian dollar peaked at US77.93c, its highest level since Wednesday of last week.

Westpac chief currency strategist Robert Rennie said the very strong jobs figures gave the currency a boost but thinks the Aussie dollar’s gains will be limited.

The U.S. dollar slipped against most major currencies on Wednesday for a third consecutive session as investors were awaiting the country’s closely-watched retail sales report due out Thursday.

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.

Today’s economic releases actual vs. forecast:

 

Upcoming Economic Events that you should be monitoring:

Friday, June 12, 2015

Government Bond Auctions

Date Time Country

Jun 15 00:00 UK New 30 year I/L syndicated Gilt auction

Jun 17 11:03 Sweden Holds bond auction

Jun 17 11:30 Germany Eur 3bn Feb 2025 Bund

Jun 18 10:30 Spain Auctions Bonos/Obligations

Jun 18 11:10 France Auctions BTANs

Jun 18 12:10 France Auctions OATi

Jun 18 17:00 US Details 2-year FRNs

Jun 18 17:00 US Announces details of 2/5/7 year notes

Jun 18 18:00 US Auctions 30-year TIPs sale on 24 Jun