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
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 |
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EUR |
German Trade Balance (Sep) |
|
20.0B |
19.6B |
|
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EUR |
Eurogroup Meetings |
|
|
|
|
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USD |
FOMC Member Rosengren Speaks |
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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