AUD/USD Weekly Fundamental Analysis December 31, 2012 – January 4, 2013, Forecast

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Updated: Aug 21, 2015, 02:00 UTC

Introduction: The Australian dollar still isn’t in its good old days, but the performance is definitely improving. Resistance lines tend to work in a

AUD/USD Weekly Fundamental Analysis December 31, 2012 – January 4, 2013, Forecast

Introduction: The Australian dollar still isn’t in its good old days, but the performance is definitely improving. Resistance lines tend to work in a smoother manner than support lines, but they also work well. The pair move well together, not much volatility, but easy to chart and easy to trade with low risk factors

Weekly Analysis and Recommendation:

The AUD/USD is trading at 1.0373 down from the high on Monday of 1.0416 and just a week prior the Aussie was set to break above the 1.05 price. There was very little data in Oz this week and markets were shuttered for the extended Christmas holiday. The commodity currencies have also been hobbled by uncertainty over US fiscal talks which could trigger automatic tax rises and spending cuts that push the United States into a recession next year.

A failure to reach an agreement could trigger a sell-off in currencies leveraged to global growth and, paradoxically, bolster the safe-haven US dollar.

Date	Last	Open	High	Low	Change %
Dec 28, 2012	1.0373	1.0369	1.0396	1.0362	0.04%
Dec 27, 2012	1.0369	1.0365	1.0389	1.0347	0.04%
Dec 26, 2012	1.0365	1.0373	1.0386	1.0345	-0.08%
Dec 25, 2012	1.0373	1.0364	1.0379	1.0364	0.09%
Dec 24, 2012	1.0364	1.0394	1.0416	1.0358	-0.29%

January 1^st, should help ease the pressure here along with Chinese data might see the Aussie rebound.

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.

Major Economic Events for the week of December 24 -28 actual v. forecast for Yen, the Aussie, the Kiwi and USD

Date	Currency	Event	Actual	Forecast	Previous
Dec. 27	USD	Initial Jobless Claims	350K	360K	362K
	USD	Continuing Jobless Claims	3206K	3200K	3238K
	USD	CB Consumer Confidence	65.1	70.0	71.5
	USD	New Home Sales	377K	378K	361K
	JPY	Tokyo Core CPI (YoY)	-0.6%	-0.5%	-0.5%
	JPY	Industrial Production (MoM)	-1.7%	-0.5%	1.6%
	JPY	Retail Sales (YoY)	1.3%	1.1%	-1.2%
Dec. 28	USD	Chicago PMI	51.6	51.0	50.4
	USD	Pending Home Sales (MoM)	1.7%	1.0%	5.0%

Historical: From 2010 to present

Highest: 1.1080 USD on Jul 27, 2011

Average: 0.9898 USD over this period

Lowest: 0.8067 USD May 25, 2010

Economic Highlights of the coming week that affect the AUD, JPY, NZD and USD

Date	Time	Currency	Event	Forecast	Previous
Jan. 01	01:00	CNY	Chinese Manufacturing PMI	51.00	50.60
Jan. 02	15:00	USD	ISM Manufacturing Index	50.2	49.5