By FXEmpire.com

Analysis and Recommendation: (close of Asian session)

The AUD/USD continues to struggle, trading today at 0.9925. The Aussie is higher as hopes grow that Greece will stay in the eurozone and after G8 leaders pushed for a pro-growth strategy to solve the continent’s debt crisis. Coupled with statements from China to do what is necessary to increase GDP, which is a positive for Australia.

Coming off of a relatively quiet news day throughout the world and a very thin eco calendar, markets seem to have calmed down a bit. The eco calendar for the US and Pacific region will heat up starting off the BoJ meetings and several eco reports from Oz.

Also Wednesday we will see the outcome of the EU summit and should start hearing more political rhetoric.

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 for May 21- 22, 2012 actual v. forecast

May 21

GBP

Rightmove House Price Index

0.0%

2.9%

CHF

SECO Consumer Climate

-8

-15

-19

May 22

NZD

Inflation Expectations (QoQ)

2.4%

2.5%

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

May 23

0:00

AUD

CB Leading Index m/m

0.0%

0:30

AUD

MI Leading Index m/m

0.2%

TBD

JPY

Monetary Policy Statement

TBD

JPY

Overnight Call Rate

TBD

JPY

BOJ Press Conference

14:00

USD

New Home Sales

328K

14:30

USD

Crude Oil Inventories

22:45

NZD

Trade Balance

134M

May 24

2:00

NZD

Annual Budget Release

5:00

JPY

BOJ Monthly Report

12:30

USD

Core Durable Goods Orders m/m

-0.8%

12:30

USD

Unemployment Claims

12:30

USD

Durable Goods Orders m/m

-4.0%

23:30

JPY

Tokyo Core CPI y/y

-0.5%

May 25

TBD

ALL

G8 Meetings

13:55

USD

Revised UoM Consumer Sentiment

Click here for further AUD/USD Forecast.

Originally posted here