By FXEmpire.com
Analysis and Recommendation:
The AUD/USD is trading in a tight range holding at 0.9865. The Chinese move was a shot in the arm for the Australian dollar, and contributed to the move towards parity, but Fed Chairman Bernanke’s lack of mention of a QE3 (quantitative easing) served as a bit of a downer for risk currencies. Not only did the Fed Chair make no mention of QE he showed no indication of any changes on monetary policy, except nothing that the Fed was ready to act if necessary.
However, consistently strong domestic data meant the Australian dollar had a good chance of moving above parity in the near-term.
The USD has regained some strength, on a positive unemployment report in the US and gold has tumbled on the lack of QE from the Fed with the greenback moving back into the safe haven benefactor.
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 June 7 – 8, 2012 actual v. forecast
|
Date |
Currency |
Event |
Actual |
Forecast |
Previous |
|
CHF |
Foreign Currency Reserves |
303.8B |
237.6B |
||
|
GBP |
Halifax HPI m/m |
0.5% |
0.3% |
-2.3% |
|
|
CHF |
CPI m/m |
0.0% |
0.1% |
0.1% |
|
|
GBP |
Services PMI |
53.3 |
52.6 |
53.3 |
|
|
EUR |
Spanish 10-y Bond Auction |
6.04|3.3 |
5.74|2.4 |
||
|
EUR |
French 10-y Bond Auction |
2.46|2.0 |
2.96|2.0 |
||
|
GBP |
Asset Purchase Facility |
325B |
325B |
325B |
|
|
GBP |
Official Bank Rate |
0.50% |
0.50% |
0.50% |
|
|
USD |
Unemployment Claims |
377K |
381K |
389K |
|
|
Ivey PMI |
60.5 |
53.5 |
52.7 |
||
|
JPY |
Current Account |
0.29T |
0.62T |
0.79T |
|
|
JPY |
Final GDP q/q |
1.2% |
1.1% |
1.0% |
|
|
Jun 8 |
AUD |
Trade Balance |
-0.20B |
-0.92B |
-1.28B |
|
AUD |
Home Loans m/m |
0.2% |
0.1% |
0.8% |
Upcoming Economic Events that affect the AUD, NZD, JPY and USD
|
Date |
Time |
Currency |
Event |
Forecast |
Previous |
|
Jun 11 |
23:50 |
JPY |
Tertiary Industry Activity m/m |
-0.6% |
|
|
Jun 12 |
1:30 |
AUD |
NAB Business Confidence |
4 |
|
|
12th-14th |
NZD |
REINZ HPI m/m |
-0.3% |
||
|
12:30 |
USD |
Import Prices m/m |
-0.5% |
||
|
18:00 |
USD |
Federal Budget Balance |
59.1B |
||
|
23:50 |
JPY |
Core Machinery Orders m/m |
-2.8% |
||
|
Jun 13 |
0:30 |
AUD |
Westpac Consumer Sentiment |
0.8% |
|
|
12:30 |
USD |
PPI m/m |
-0.2% |
||
|
12:30 |
USD |
Retail Sales m/m |
0.1% |
||
|
14:00 |
USD |
Business Inventories m/m |
0.3% |
||
|
14:30 |
USD |
Crude Oil Inventories |
-0.1M |
||
|
21:00 |
NZD |
Official Cash Rate |
2.50% |
2.50% |
|
|
21:00 |
NZD |
RBNZ Press Conference |
|||
|
21:00 |
NZD |
RBNZ Monetary Policy Statement |
|||
|
Jun 14 |
1:00 |
AUD |
MI Inflation Expectations |
3.1% |
|
|
12:30 |
USD |
Core CPI m/m |
0.2% |
||
|
12:30 |
USD |
Unemployment Claims |
377K |
||
|
12:30 |
USD |
CPI m/m |
0.0% |
||
|
12:30 |
USD |
Current Account |
-124B |
||
|
Jun 15 |
12:30 |
USD |
Empire State Manufacturing Index |
17.1 |
|
|
13:00 |
USD |
TIC Long-Term Purchases |
36.2B |
||
|
13:15 |
USD |
Capacity Utilization Rate |
79.2% |
||
|
13:15 |
USD |
Industrial Production m/m |
1.1% |
||
|
13:55 |
USD |
Prelim UoM Consumer Sentiment |
79.3 |
Click here a current AUD/USD Chart.
Originally posted here
