AUD/USD Weekly Fundamental Analysis February 11-15, 2013, Forecast

Weekly Analysis and Recommendation:

The AUD/USD tumbled this week to close at 1.0325 after falling below the 1.03 big number. The Aussie saw heavy losses last week in the wake of the RBA monetary policy announcement. The central bank kept the benchmark lending rate unchanged at 3 percent as expected but the statement released following the sit-down clearly opened the door for further easing in the months ahead. Economic data released in the aftermath of the rate decision helped to reinforce that message: retail sales unexpectedly fell while January’s employment data revealed a worrying slump in full-time hiring and a decrease in the jobless rate that owed more to a shrinking labor force than jobs growth.

Headlines will be preoccupied with the G20 summit at the end of the week, but this seems misguided. Policymakers will almost certainly offer lots of rhetoric on the importance of exchange rate flexibility. There is not much expected in AUD data in the week ahead.

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 February 4-8, 2013 actual v. forecast for Yen, the Aussie, the Kiwi and USD

 

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