By FXEmpire.com
Analysis and Recommendation:
The AUD/USD continues to rise on the back of several days of positive eco data. The pair are trading at 0.9952. This morning, Australian unemployment fell to 5.1% but business in Oz added over 38,000 jobs when they were expecting to lose jobs this month after a surge in prior months. This helped strengthen the Aussie, combined with yesterdays surprising GDP data; we should see the AUD continue to climb.
Australian GDP rose by 1.3 per cent in the three months to March – much better than the 0.6 per cent forecast by economists. Over the year to March, GDP grew by 4.3 per cent, the Australian Bureau of Statistics said on Wednesday.
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 6-7, 2012 actual v. forecast
|
EUR |
GDP (QoQ) |
0.0% |
0.0% |
0.0% |
|
|
EUR |
German Industrial Production (MoM) |
-2.2% |
-1.0% |
2.2% |
|
|
EUR |
Interest Rate Decision |
1.00% |
1.00% |
1.00% |
|
|
USD |
Nonfarm Productivity (QoQ) |
-0.9% |
-0.7% |
-0.5% |
|
|
USD |
Unit Labor Costs (QoQ) |
1.3% |
2.2% |
2.0% |
|
|
Jun. 07 |
AUD |
Employment Change |
38.9K |
-5.0K |
15.5K |
|
AUD |
Unemployment Rate |
5.1% |
5.1% |
5.0% |
Upcoming Economic Events that affect the AUD, NZD, JPY and USD
|
Date |
Time |
Currency |
Previous |
|
|
Jun 8 |
1:30 |
AUD |
Trade Balance |
-1.59B |
|
1:30 |
AUD |
Home Loans m/m |
0.3% |
|
|
12:30 |
USD |
Trade Balance |
-51.8B |
|
|
14:00 |
USD |
Fed Chairman Bernanke Testifies |
Originally posted here
