By FXEmpire.com
Analysis and Recommendation:
The AUD/USD is trading at 1.0227 towards the end of the session.
The release of domestic inflation figures did little to arrest the Australian dollar’s slide triggered by continued negative news out of the euro zone. The Aussie dipped briefly following the release of the consumer price index (CPI) figures shortly before noon, but quickly recovered.
The CPI data was a tad weaker than expected, but the bottom line is inflation is very low. Whether the RBA choose to do so will depend on its perception of the global economy. Weaker-than-expected manufacturing data out of Europe overnight and continued euro zone debt concerns prompted the Australian dollar to fall.
Let’s face it, the USD is strong due to the disaster in the EU and markets are looking for safety. It is difficult to trade against the momentum of the USD or the JPY in present circumstances.
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.
Economic Data July 24 – 25, 2012 actual v. forecast
|
Date |
Currency |
Event |
Actual |
Forecast |
Previous |
|
EUR |
French Flash Manufacturing PMI |
43.6 |
45.6 |
45.2 |
|
|
EUR |
French Flash Services PMI |
50.2 |
47.7 |
47.9 |
|
|
EUR |
German Flash Manufacturing PMI |
43.3 |
45.3 |
45.0 |
|
|
EUR |
German Flash Services PMI |
49.7 |
50.1 |
49.9 |
|
|
EUR |
Flash Manufacturing PMI |
44.1 |
45.3 |
45.1 |
|
|
EUR |
Flash Services PMI |
47.6 |
47.3 |
47.1 |
|
|
GBP |
BBA Mortgage Approvals |
26.3K |
31.4K |
29.6K |
|
|
Core Retail Sales m/m |
0.5% |
0.1% |
-0.4% |
||
|
USD |
Flash Manufacturing PMI |
51.8 |
52.1 |
52.5 |
|
|
NZD |
Trade Balance |
331M |
77M |
232M |
|
|
JPY |
Trade Balance |
-0.30T |
-0.39T |
-0.62T |
|
|
Jul 25 |
AUD |
CB Leading Index m/m |
0.4% |
-1.3% |
|
|
AUD |
CPI q/q |
0.5% |
0.6% |
0.1% |
|
|
AUD |
Trimmed Mean CPI q/q |
0.5% |
0.6% |
0.4% |
Upcoming Economic Events that affect the AUD, NZD, JPY and USD
|
Date |
Time |
Currency |
Event |
Previous |
|
Jul 26 |
0:10 |
JPY |
||
|
12:30 |
USD |
0.7% |
||
|
12:30 |
USD |
|||
|
14:00 |
USD |
5.9% |
||
|
23:30 |
JPY |
-0.6% |
||
|
23:50 |
JPY |
3.6% |
||
|
Jul 27 |
12:30 |
USD |
1.9% |
|
|
13:55 |
USD |
72.0 |
Click here to read AUD/USD Technical Analysis.
Originally posted here
