AUD/USD Fundamental Analysis July 16, 2012 Forecast

By FXEmpire.com

Analysis and Recommendation:

The AUD/USD climbed a bit today, to trade at 1.0170, after the release of Chinese economic data, which in line with market expectations. (See chart below)

China reported today that its economy grew by 7.6 per cent in the second quarter of 2012, the slowest pace in more than three years. Traders had been expecting that Chinese gross domestic product (GDP) would be about 7.7 per cent. But there were persistent worries that the data could have been bad.

The USD remains strong against its trading partners as markets remain in risk aversion theme. The US unemployment numbers came within expectations offering markets a sigh of relief, as many were expecting worse numbers.

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 13, 2012 actual v. forecast

Date	Time	Currency	Importance	Event	Actual	Forecast	Previous
Jul. 13	03:00	CNY	Chinese Fixed Asset Investment (YoY)	20.4%	20.1%	20.1%
03:00	CNY	Chinese GDP (YoY)	7.6%	7.6%	8.1%
03:00	CNY	Chinese Industrial Production (YoY)	9.5%	9.8%	9.6%
03:00	CNY	Chinese Retail Sales (YoY)	13.7%	13.5%	13.8%
05:30	JPY	Industrial Production (MoM)	-3.4%	-3.1%	0.5%

Upcoming Economic Events that affect the AUD, NZD, JPY and USD

Date	Time	Currency	Event	Previous
Jul 16	12:30	USD	Retail Sales m/m	-0.2%
	12:30	USD	Empire State Manufacturing Index	2.3
	14:00	USD	Business Inventories m/m	0.4%
	22:45	NZD	CPI q/q	0.5%
Jul 17	1:30	AUD	New Motor Vehicle Sales m/m	2.4%
	9:15	ALL	G7 Meetings
	12:30	USD	CPI m/m	-0.3%
	13:00	USD	TIC Long-Term Purchases	25.6B
	13:15	USD	Capacity Utilization Rate	79.0%
	13:15	USD	Industrial Production m/m	-0.1%
Jul 18	0:30	AUD	MI Leading Index m/m	0.5%
	12:30	USD	Building Permits	0.78M
	12:30	USD	Housing Starts	0.71M
	14:30	USD	Crude Oil Inventories	-4.7M
Jul 19	1:30	AUD	NAB Quarterly Business Confidence	-1
	12:30	USD	Unemployment Claims
	14:00	USD	Existing Home Sales	4.55M
	14:00	USD	Philly Fed Manufacturing Index	-16.6
Jul 20	1:30	AUD	Import Prices q/q	-1.2%

Click here a current AUD/USD Chart.

Originally posted here