By FXEmpire.com
Analysis and Recommendation: (close of Asian session)
The AUD/USD continues to decline trading during the Asian session at 0.9984 The Aussie has fallen back below parity with its US counterpart as fears mount that Greece will exit the euro zone and default on its debt saw global equity markets plummet. Most all commodity currencies are having a difficult time against the safe haven USD.
The currency briefly dropped below parity yesterday afternoon, the first time it has been under 100 US cents since December 2011.
The market is slowly coming around to the idea that Greece may actually leave the euro zone and that sentiment has taken its toll on risk assets overnight.
The USD as well as the JPY are the benefactors of the risk off trade, reacting to news and politics and not fundamentals and eco data. The AUD has no reason to be weakened it is simply global sentiment. As investors run from the euro, the USD gains strength.
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, which cover the current week and are published by Sunday before the new week begins.
Economic Data May 14 – 15, 2012 actual v. forecast
|
EUR |
Finnish CPI (YoY) |
3.10% |
2.90% |
||
|
CHF |
PPI (MoM) |
-0.1% |
0.3% |
0.3% |
|
|
EUR |
Dutch Retail Sales (YoY) |
2.20% |
1.10% |
||
|
EUR |
Industrial Production (MoM) |
-0.3% |
0.4% |
0.8% |
|
|
EUR |
Italian 10-Year BTP Auction |
5.66% |
5.84% |
||
|
May 15 |
EUR |
French CPI (MoM) |
0.1% |
0.3% |
0.8% |
|
EUR |
French GDP (QoQ) |
0.0% |
-0.1% |
0.1% |
Upcoming Economic Events that affect the AUD, NZD, JPY and USD
|
May 16 |
01:30 |
AUD |
Westpac Consumer Sentiment |
-1.60% |
|
|
02:30 |
AUD |
Wage Price Index (QoQ) |
1.0% |
||
|
23:45 |
NZD |
PPI Input (QoQ) |
0.5% |
||
|
May 17 |
00:50 |
JPY |
GDP (QoQ) |
0.9% |
-0.2% |
|
05:30 |
JPY |
Industrial Production (MoM) |
1.0% |
Click here to read AUD/USD Technical Analysis.
Originally posted here
