AUD/USD Fundamental Analysis November 15, 2012, Forecast

Analysis and Recommendation:

The AUD/USD is trading at 1.0453 adding over 18 pips on data releases this morning. Westpac said a survey showing a jump in Australian consumer sentiment in November had given the currency a boost.

It suggests that, finally, we’re starting to get some traction on confidence from rate cuts over the last year. Within the data, households seem like they’re becoming more comfortable with the global outlook.

The Westpac Melbourne Institute Index of Consumer Sentiment for November rose by 5.2 per cent to 104.3 per cent – its highest level since April 2011.

Incumbent US president Barack Obama is set to meet with Democrat and Republican leaders this week to discuss the so-called fiscal cliff – a series of tax rises and spending cuts which come in automatically in January and that could push the world’s biggest economy into recession.

The market would also be watching for any sign that the Reserve Bank of Australia (RBA) might cut the cash rate 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 November 15, 2012 actual v. forecast

 

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