AUD/USD Fundamental Analysis – November 27, 2015 -Forecast

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Published: Nov 26, 2015, 04:03 UTC

Analysis and Recommendation: The AUD/USD dipped 23 points on the US holiday after New Capital Expenditure dipped lower than expected as traders remain

AUD/USD Fundamental Analysis – November 27, 2015 -Forecast

Analysis and Recommendation:

The AUD/USD dipped 23 points on the US holiday after New Capital Expenditure dipped lower than expected as traders remain worrisome over China’s growth. The Aussie is trading at 0.7228. The Aussie has risen lately on the back of a strong labor report in October and lower expectations for a rate cut by the RBA. The October labor report beat expectations as 58,600 jobs were added. The market was only expecting an increase of 15,000. The unemployment rate fell to 5.9% from 6.2%.

Further helping the Aussie dollar has been the language out of the RBA. Overall, the RBA has been rather upbeat on the prospects of the Australian economy heading into next year.

Traders are sitting on the sidelines ahead of the US Thanksgiving holiday on Thursday and a busy week of economic data next week. With US Thanksgiving and the shortened trading week, already eyes are on next week’s nonfarm payroll figure although this now seems that it will be little more than a formality as the big dip in consumer confidence did little to move rate expectations.

Asian shares advanced in early trade on Thursday, while growing bets the European Central Bank was gearing up to deliver further stimulus steps kept the euro under pressure. ECB officials told Reuters that they are considering options such as whether to stagger charges on banks hoarding cash or to buy more debt ahead of next week’s policy meeting, according to officials.

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
	United States – Thanksgiving Day
NZD	Trade Balance (MoM) (Oct)	-963M	-937M	-1,222M
NZD	Trade Balance (YoY) (Oct)	-3,240M	-3,370M	-3,200M
AUD	Private New Capital Expenditure	-9.2%	-3.0%	-4.4%
EUR	GfK German Consumer Climate		9.2	9.4

Upcoming Economic Events that you should be monitoring:

Friday, November 27, 2015

Cur.	Event	Actual	Forecast	Previous
	United States – Day following Thanksgiving – Early close at 13:30
JPY	Household Spending (MoM) (Oct)		1.1%	-1.3%
JPY	Household Spending (YoY) (Oct)		0.1%	-0.4%
JPY	Jobs/applications ratio (Oct)		1.24	1.24
JPY	National Core CPI (YoY) (Oct)		-0.1%	-0.1%
JPY	Tokyo Core CPI (YoY) (Nov)		-0.1%	-0.2%
GBP	Nationwide HPI (MoM) (Nov)		0.5%	0.6%
GBP	Nationwide HPI (YoY) (Nov)		4.2%	3.9%
GBP	Business Investment (QoQ) (Q3)		1.5%	1.6%
GBP	GDP (YoY) (Q3)		2.3%	2.3%
GBP	GDP (QoQ) (Q3)		0.5%	0.5%