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

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Published: Nov 11, 2015, 04:43 UTC

Analysis and Recommendation: The AUD/USD gained 40 points to 0.7070 but remains near the bottom of the trading range giving back a bit of its gains after

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

Analysis and Recommendation:

The AUD/USD gained 40 points to 0.7070 but remains near the bottom of the trading range giving back a bit of its gains after consumer sentiment printed a bit lower than last month. The US dollar is trading in the red helping to boost its crosses.

The dollar declined in Asia after rallying since last week’s US jobs data while Asian equities mostly dipped as investors nervously await the release of more Chinese economic data.

The greenback has advanced at least 1 percent against all of its 10 developed-nation counterparts this month. Investors pulled back from the U.S. currency before a spate of Chinese data that will provide clues on the extent of the slowdown in the world’s second-largest economy, said Noam Iris, head of currencies and fixed-income strategy at Macquarie Bank Ltd. in Singapore.

Today’s reports from China include data on retail sales, factory production and fixed-asset investment.

The odds of U.S. policy makers increasing rates in December were at 66 percent, compared with 50 percent at the end of October, as the biggest gain in payrolls this year last month shifted market focus to whether risk assets are resilient enough for the first rate increase since 2006.

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
NZD	RBNZ Gov Wheeler Speaks
USD	API Weekly Crude Oil Stock	6.300M	0.500M	2.800M
AUD	Westpac Consumer Sentiment	3.9%		4.2%
CNY	Fixed Asset Investment (YoY) (Oct)		10.2%	10.3%
CNY	Industrial Production (YoY) (Oct)		5.8%	5.7%

Upcoming Economic Events that you should be monitoring:

Thursday, November 12, 2015

Cur.	Event	Actual	Forecast	Previous
NZD	Business NZ PMI (Oct)			55.4
GBP	RICS House Price Balance (Oct)		45%	44%
AUD	Unemployment Rate (Oct)		6.2%	6.2%
EUR	German CPI (MoM) (Oct)		0.0%	0.0%
EUR	Industrial Production (MoM) (Sep)		-0.1%	-0.5%
USD	Initial Jobless Claims		270K	276K
USD	FOMC Member Bullard Speaks
USD	JOLTs Job Openings (Sep)		5.370M	5.370M
USD	Crude Oil Inventories		0.752M	2.847M
USD	FOMC Member Dudley Speaks
USD	Federal Budget Balance (Oct)		-130.0B	91.0B