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AUD/USD Monthly Fundamental Forecast October 2014
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Outlook and Recommendation The AUD/USD closed the month dealing with some unfavorable data as well as harsh words from the Reserve Bank of Australia. The
Outlook and Recommendation
The AUD/USD closed the month dealing with some unfavorable data as well as harsh words from the Reserve Bank of Australia. The Aussie closed the month at 0.8748. But the employment figures on Friday will be crucial to cementing that optimism after US consumer confidence fell for the first time in four months and weakness in Chinese manufacturing stoke renewed fears about the global economy.
The October 1st decline followed the September 30th slide, sparked by anemic domestic retail figures, disappointing factory data from China and signs of a cooling housing market, added to ongoing jitters about imbalances in the global economy. Faster than expected recovery in the US and Britain, for example, is creating market volatility that is drawing foreign investors away from Australian financial assets such as bonds and shares.
As a result, the local currency has depreciated by 6.5 per cent against the greenback in the past month, although it remains one of the better-performing currencies over the long run. The currencies of other big commodity exporters such as Brazil have also come under pressure in recent weeks.
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 recent analysis and information in our weekly reports and we provide daily updates and outlooks.
Upcoming Economic Events that you should be monitoring:
Cur. Event
Wednesday, October 1
CNY Manufacturing PMI
EUR German Manufacturing PMI
GBP Manufacturing PMI
USD ADP Nonfarm Employment Change
USD ISM Manufacturing PMI
Thursday, October 2
GBP Construction PMI
EUR Interest Rate Decision
Friday, October 3
GBP Services PMI
USD Nonfarm Payrolls
USD Unemployment Rate
USD ISM Non-Manufacturing PMI
Monday, October 6
CAD Ivey PMI
Tuesday, October 7
GBP Manufacturing Production (MoM)
Thursday, October 9
GBP Interest Rate Decision
Friday, October 10
CAD Employment Change
Monday, October 13
CNY Trade Balance
Tuesday, October 14
EUR German ZEW Economic Sentiment
Wednesday, October 15
CNY CPI (YoY)
GBP Average Earnings Index +Bonus
Thursday, October 16
12:00 EUR CPI (YoY)
Friday, October 17
15:30 CAD Core CPI (MoM)
Government Bond Auction
Date Time Country
Oct 01 11:03 Sweden Bond auction
Oct 01 11:30 Germany Eur 5.0bn Aug 2024 Bund auction
Oct 01 11:30 UK Auctions 2% 2020 Gilt
Oct 02 10:30 Spain Bono/Obligacion auction
Oct 02 17:00 US Announces details of 3/10Y Note
About the Author
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