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AUD/USD Fundamental Analysis – November 9, 2015 – Forecast

By:
Barry Norman
Published: Nov 6, 2015, 04:30 UTC

Analysis and Recommendation: The AUD/USD is trading at 0.7145 recovering slightly from this week’s lows, but the Aussie seems unable to get a leg up with

AUD/USD Fundamental Analysis – November 9, 2015 – Forecast

audusd friday bnsla
Analysis and Recommendation:

The AUD/USD is trading at 0.7145 recovering slightly from this week’s lows, but the Aussie seems unable to get a leg up with Chinese data remaining weak and the US dollar touching new monthly highs.  In its quarterly statement on monetary policy, the RBA said that the unemployment rate will stay in its recent range between 6 to 6.25 per cent, and then gradually decline.

BK Asset Management director of FX strategy Boris Schlossberg said the more interesting drivers for the currency will be US nonfarm pay rolls due out Friday night, Australian time. “If we get a strong number the market consensus will really shift towards a December rate hike, which will put further pressure on the Aussie,” he said. ( reported in Business Spectator )

The U.S. dollar edged higher against its main rivals on Thursday as investors were hopeful that a report on job growth in October, expected early Friday, would support a Federal Reserve interest-rate hike in December–a boon for the greenback.

The dollar’s performance on Thursday was largely due to comments from Fed Chairwoman Janet Yellen, Vice Chairman Stanley Fischer and New York Fed President William Dudley–what one analyst called “the three heavyweights” of the Fed’s rate-setting committee–made on Wednesday.

All three stressed that a rate hike at the Fed’s December policy meeting is still on the table.

Expectations for a Fed hike this year waned in September and October after Fed officials expressed concerns about slowing growth in China and other emerging-market economies, dragging the dollar down with them.

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:

  GBP

 

BoE Gov Carney Speaks  

 

 

 

 

 

  AUD

 

Monetary Policy Meeting Minutes

 

 

 

 

 

  JPY

 

BoJ Governor Kuroda Speaks  

 

 

 

   

 

audusd

Upcoming Economic Events that you should be monitoring:

Monday, November 9, 2015

Cur.

 

Event

Actual

Forecast

Previous

 

  EUR

 

German Trade Balance (Sep)

 

20.0B

19.6B

 

 

  EUR

 

Eurogroup Meetings  

 

 

 

   

Government Bond Auctions

Date Time Country

Nov 09 12:00 Norway Details bond auction on 11 Nov

Nov 09 15:30 Italy Announces details of BTPs/CCTeu on 12 Nov

Nov 09 N/A US Holds 3-year note auction

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

 

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