Advertisement
Advertisement

AUD/USD Fundamental Analysis – November 10, 2015 – Forecast

By:
Barry Norman
Published: Nov 9, 2015, 03:21 UTC

Analysis and Recommendation: The AUD/USD is trading in the gree this morning with no economic data and no speeches. Chinese and US data are the

AUD/USD Fundamental Analysis – November 10, 2015 – Forecast

audusd monday bnsnla
Analysis and Recommendation:

The AUD/USD is trading in the gree this morning with no economic data and no speeches. Chinese and US data are the controlling market factors. Hopes of additional stimulus are keeping the Aussie alive after Chinese exports and import data crashed on Sunday. This week is loaded with data from the Red Nation including inflation and retail sales along with industrial production. The US dollar remains near its top after a great jobs report on Friday which is signaling a Fed rate increase next month. The Aussie is holding just a drop over 70 at 0.7053.

The strong US non-farm payrolls report for October, lackluster Chinese trade figures released over the weekend and further weakness in commodity prices, the Australian dollar has opened the new trading week under renewed selling pressure, flirting with the 70 cent level early Asian trade.

The US dollar rallied and commodity prices fell following the data as traders saw the jobs figures as a green light for the US Federal Reserve to raise its interest rate for the first time in nine years.

Adding to the local currency’s woes was the Chinese China trade surplus rising to its highest on record, due to an 18.8 per cent fall in imports.

However, OANDA Australia and Asia Pacific senior trader Stephen Innes said there is a reluctance to drive the Australian dollar below US70c at this time. “The one reprieve over the short term is the China data beckons a call for the Peoples Bank of China (PBoC) easing which will continue to support the broader risk on sentiment we’ve seen regionally over the past month,” he said.

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:

Cur.

 

Event

Actual

Forecast

Previous

 

  EUR

 

German Trade Balance (Sep)

 

20.0B

19.6B

 

 

  EUR

 

Eurogroup Meetings  

 

 

 

 

 

  USD

 

FOMC Member Rosengren Speaks  

 

       

 

audusd

Upcoming Economic Events that you should be monitoring:

Tuesday, November10, 2015

Cur.

 

Event

Actual

Forecast

Previous

 

  JPY

 

Current Account n.s.a. (Sep)

 

2.235T

1.653T

 

 

  GBP

 

BRC Retail Sales Monitor (YoY) (Oct)

 

 

2.6%

 

 

  AUD

 

Home Loans (MoM) (Sep)

 

 

2.9%

 

 

  AUD

 

NAB Business Confidence (Oct)

 

 

5

 

 

  CNY

 

CPI (MoM) (Oct)

 

-0.2%

0.1%

 

 

  CNY

 

CPI (YoY) (Oct)

 

1.5%

1.6%

 

 

  CNY

 

PPI (YoY) (Oct)

 

-5.8%

-5.9%

 

 

  EUR

 

EU Finance Ministers Meeting  

 

 

 

 

 

  USD

 

Export Price Index (MoM) (Oct)

 

-0.2%

-0.7%

 

 

  USD

 

Import Price Index (MoM) (Oct)

 

-0.1%

-0.1%

   

Government Bond Auctions

Date Time Country

Nov 10 10:30 UK 0.125% 2058 I/L Gilt auction

Nov 10 N/A Holland Eur 2.0-3.0bn 0% Apr 2018 DSL

Nov 10 N/A US Holds 10-year note auction

Nov 11 10:03 Sweden Holds bond auction

Nov 11 11:15 Norway Holds bond auction

Nov 11 10:30 Germany Eur 3bn 0.25% Oct 2020 Bobl

Nov 12 10:10 Italy Auctions BTPs/CCTeus

Nov 12 10:30 UK 4.25% 2039 Gilt auction

Nov 12 N/A US Holds 30-year bond auction

 

About the Author

Did you find this article useful?

Advertisement