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AUD/USD Fundamental Analysis November 24, 2015 – Forecast

By:
Barry Norman
Published: Nov 23, 2015, 04:49 UTC

Analysis and Recommendation: The AUD/USD tumbled 61 points to 0.7178 offsetting a great deal of last week’s rally, as the US dollar climbed and growth in

AUD/USD Fundamental Analysis November 24, 2015 – Forecast

audusd monday bnsnla
Analysis and Recommendation:

The AUD/USD tumbled 61 points to 0.7178 offsetting a great deal of last week’s rally, as the US dollar climbed and growth in China sparked worries in the markets.  Asia may be quieter at the start of the week due to a Japanese holiday today. Later this week, Japan has employment and inflation data.

The Reserve Bank of Australia governor Glenn Stevens is scheduled to speak to the Australian Business Economists annual dinner tomorrow, while assistant governor Guy Debelle speaks in London the following day at an FX Week Europe conference. Australia has data on construction and capital spending this week.

Westpac senior currency strategist Sean Callow said the Australian dollar was one of the best performing major currencies last week. “This was despite the weakness in iron ore prices,” he said.

“Merger and acquisition inflows to Australia may be a supportive factor for the Australian dollar, with numerous deals on the wires lately.”

Meanwhile, fresh figures showed spending growth is staying at solid levels in the lead-up to Christmas.

In October, spending rose 0.5 per cent, slower than the bumper 3.3 per cent increase in September, the Commonwealth Bank’s seasonally adjusted business sales indicator showed. But the annual sales growth rate of 7.4 per cent was still above the long-term trend. Consumer staples were up 1.69 per cent as a sector.

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:

 

Event

Actual

Forecast

Previous

 

 

Holiday

Japan – Labour Thanksgiving Day

 

audusd

Upcoming Economic Events that you should be monitoring:

Tuesday, November 24, 2015

Cur.

 

Event

Actual

Forecast

Previous

 

  EUR

 

German GDP (QoQ) (Q3)

 

0.3%

0.3%

 

 

  EUR

 

German GDP (YoY) (Q3)

 

1.8%

1.8%

 

 

  EUR

 

German Business Expectations (Nov)

 

104.0

103.8

 

 

  EUR

 

German Current Assessment (Nov)

 

112.4

112.6

 

 

  EUR

 

German Ifo Business Climate Index (

 

108.2

108.2

 

 

  USD

 

GDP (QoQ) (Q3)

 

2.0%

1.5%

 

 

  USD

 

GDP Price Index (QoQ) (Q3)

 

1.2%

1.2%

 

 

  USD

 

Goods Trade Balance (Oct)

 

 

-58.63B

 

 

  USD

 

S&P/CS HPI Composite – 20 n.s.a.

 

5.2%

5.1%

 

 

  USD

 

CB Consumer Confidence (Nov)

 

99.5

97.6

   

Government Bond Auctions

Date Time Country

Nov 23 12:00 Belgium Auctions OLOs

Nov 23 N/A US Holds 2-year note auction

Nov 24 17:30 Italy Announces details of BTPs/CCTeu on 27 Nov

Nov 24 N/A Holland Eur 1.0-2.0bn 0.25% Jul 2025 DSL

Nov 24 N/A US Holds 5-year note auction

Nov 25 11:03 Sweden Holds bond auction

Nov 25 11:10 Italy Auctions CTZ/BTPei

Nov 25 11:30 Germany Eur 3bn 1.0% Aug 2025 Bund

Nov 25 N/A US Holds 2-year FRN auction

Nov 25 N/A US Holds 7-year note auction

Nov 26 11:03 Sweden Holds bond auction

Nov 27 11:03 Sweden Holds bond auction

Nov 27 11:10 Italy Auctions BTPs/CCTeus

 

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