By FXEmpire.com
Analysis and Recommendation:
The AUD/USD is trading this morning at 1.0391 as it continues to climb. Against the euro the Aussie is breaking records trading at 0.8456. Awakened euro and the opposing moves by the ECB and the RBA have helped support the AUD.
Yesterday a report was released showing that for 21 consecutive years that Australia has never had a recession and that overall its economy is doing quite well.
As the USD continued to weaken and the Eurozone crisis continues to weigh on investors positive earnings reports energized markets and traders were a bit more upbeat and moved to higher risk assets, including the commodity currencies, pushing the AUD, the NZD and the CAD to trade higher. The AUD is beginning to be viewed as a possible safe haven currency and may enjoy a bigger surge in times of risk.
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 19, 2012 actual v. forecast
|
Date |
Currency |
Event |
Actual |
Forecast |
Previous |
|
Jul. 18 |
JPY |
Monetary Policy Meeting Minutes |
|||
|
GBP |
Average Earnings Index +Bonus |
1.5% |
1.4% |
1.4% |
|
|
GBP |
Claimant Count Change |
6.1K |
5.0K |
6.9K |
|
|
GBP |
MPC Meeting Minutes |
||||
|
USD |
Building Permits |
0.755M |
0.765M |
0.784M |
|
|
USD |
Housing Starts |
0.760M |
0.745M |
0.711M |
|
|
USD |
Fed Chairman Bernanke Testifies |
Upcoming Economic Events that affect the AUD, NZD, JPY and USD
|
Date |
Time |
Currency |
Event |
Previous |
|
Jul 20 |
1:30 |
AUD |
Import Prices q/q |
-1.2% |
Government Bond Auctions
Date Time Country
Jul 23- n/a UK
Jul 23 09:30 Germany
Jul 24 08:30 Netherlands
Jul 24 08:30 Spain
Jul 24 15:30 Italy
Jul 24 17:00 US
Jul 25 09:30 Germany
Jul 25 15:30 Italy
Jul 25 17:00 US
Jul 26 00:30 Japan
Jul 26 09:10 Italy
Jul 27 09:10 Italy
Jul 27 17:00 US
Click here to read AUD/USD Technical Analysis.
Originally posted here
