By FXEmpire.com
AUD/USD Fundamental Analysis April 17, 2012 Forecast
Analysis and Recommendation: (close of Asian session)
The AUD/USD has fallen to 1.0314. The Aussie has followed Asian stock markets lower amid concerns about Spanish bond yields and a slowing Chinese economy and may be moving towards parity with its US counterpart, traders say.
Down from 103.85 US cents on Friday afternoon.
The AUD opened weak in Asia and it’s a pretty ominous sign because it finished the US session on Friday lower as well but it was in line with all Asian currencies
The currency’s fall mirrored drops on Asian and domestic stock markets, the ASX 200 was down 0.51 per cent at noon while Japan’s Nikkei had dropped 1.24 per cent.
Concerns about China’s slowing economy and slowing bond yield had hurt the currency.
Official Chinese data released on Friday revealed gross domestic product growth slowed to an annualized rate of 8.1 per cent in the March quarter, below the 8.4 per cent forecast by economists.
Meanwhile, Spanish bond yields have risen over the past few weeks, re-igniting concerns it may require a bailout from the European Union.
Economic Data Released on April 13, 2012 actual v. forecast
|
JPY |
Monetary Policy Meeting Minutes |
|||
|
KRW |
South Korean Interest Rate Decision |
3.25% |
3.25% |
3.25% |
|
CNY |
Chinese Fixed Asset Investment (YoY) |
20.9% |
20.8% |
21.5% |
|
CNY |
Chinese GDP (YoY) |
8.1% |
8.3% |
8.9% |
|
CNY |
Chinese Industrial Production (YoY) |
11.9% |
11.5% |
11.4% |
|
CNY |
Chinese Retail Sales (YoY) |
15.2% |
15.0% |
14.7% |
|
EUR |
German CPI (MoM) |
0.3% |
0.3% |
0.3% |
|
EUR |
Finnish CPI (YoY) |
2.90% |
3.10% |
|
|
GBP |
PPI Input (MoM) |
1.9% |
1.2% |
2.5% |
|
BRL |
Brazilian Retail Sales (YoY) |
9.6% |
9.0% |
7.3% |
|
PLN |
Polish CPI (YoY) |
3.9% |
3.9% |
4.3% |
|
USD |
Core CPI (MoM) |
0.2% |
0.2% |
0.1% |
|
USD |
CPI (MoM) |
0.3% |
0.3% |
0.4% |
|
USD |
Michigan Consumer Sentiment Index |
75.7 |
76.2 |
76.2 |
|
USD |
Fed Chairman Bernanke Speaks |
Economic Events scheduled for April 17, 2012 that affect the NZD, AUD, and JPY
05:30 JPY Industrial Production (MoM) -1.2%
Industrial Production measures the change in the total inflation-adjusted value of output produced by manufacturers, mines, and utilities.
13:30 USD Building Permits 0.71M 0.71M
Building Permits measures the change in the number of new building permits issued by the government. Building permits are a key indicator of demand in the housing market.
13:30 USD Housing Starts 0.70M 0.70M
Housing starts measures the change in the annualized number of new residential buildings that began construction during the reported month. It is a leading indicator of strength in the housing sector.
14:15 USD Industrial Production (MoM) 0.5%
Industrial Production measures the change in the total inflation-adjusted value of output produced by manufacturers, mines, and utilities.
Government Bond Auctions (this week)
Apr 17 08:30 Spain 12 & 18M T-bill auction
Apr 17 09:30 Belgium Auctions 3 & 12M T-bills
Apr 18 09:10 Sweden Nominal bond auction
Apr 18 09:30 Germany Eur 5.0bn 0.25% Mar 2014 Schatz
Apr 18 14:30 Sweden Details T-bill auction on Apr 25
Apr 19 08:30 Spain Obligacion auction
Apr 19 08:50 France BTAN auction
Apr 19 09:30 UK Auctions 0.125% I/L Gilt 2029
Apr 19 09:50 France OATi auction
Originally posted here
