By FXEmpire.com
Analysis and Recommendation: (close of Asian session)
The AUD/USD moved up a bit to 0.9961. The Aussie was able to capture a bit of the support as traders looked for a bit more risk, but did not want to touch anything associated with Europe.
The Aussie tumbled to recent lows over the past few days, making it a great buy for investors looking for a bargain. The economy is fairly stable, inflation is better than expected. Jobs and Housing are settling in nicely.
As turmoil continues in Europe the other crosses will remain depressed which will serve as a benefit for the commodity currencies. Mining in Australia is booming, which is supporting economic growth and expansion.
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 May 16 – 17, 2012 actual v. forecast
|
GBP |
Average Earnings Index +Bonus |
0.6% |
1.0% |
1.1% |
|
|
GBP |
Claimant Count Change |
-13.7K |
5.0K |
-5.4K |
|
|
EUR |
CPI (YoY) |
2.6% |
2.6% |
2.6% |
|
|
EUR |
Core CPI (YoY) |
1.6% |
1.5% |
1.6% |
|
|
EUR |
German 10-Year Bund Auction |
1.470% |
1.770% |
||
|
EUR |
Portuguese Unemployment Rate |
14.90% |
14.00% |
||
|
USD |
Building Permits |
0.715M |
0.730M |
0.769M |
|
|
USD |
Housing Starts |
0.717M |
0.680M |
0.699M |
|
|
Manufacturing Sales (MoM) |
1.90% |
1.00% |
-0.20% |
||
|
USD |
Industrial Production (MoM) |
1.1% |
0.6% |
-0.6% |
|
|
NZD |
PPI Input (QoQ) |
0.3% |
0.0% |
0.5% |
|
|
May 17 |
JPY |
GDP (QoQ) |
1.0% |
0.9% |
-0.2% |
|
JPY |
GDP Price Index (YoY) |
-1.2% |
-1.4% |
-1.8% |
Upcoming Economic Events that affect the AUD, NZD, JPY and USD
The calendar for the end of the week is very thin. There should be little eco data that will affect the markets
Click here a current AUD/USD Chart.
Originally posted here
