By FXEmpire.com
Analysis and Recommendation:
The AUD/USD broke through the psychological 1.05 number to trade at 1.0524 after a positive buildings approval report. Building approvals fell in June, but much less than analysts expected them to, according to the Australian Bureau of Statistics. The number of dwellings approved eased a seasonally adjusted 2.5 per cent to 13,336 for the month.
This compares to an upwardly revised 13,683 units in May, seasonally adjusted. Economic forecasters had expected a 14.6 per cent fall in approvals in June. Building approvals are now 10.2 per cent higher, seasonally adjusted, than in the same month last year. Analysts had expected the annual fall to reach 5.4 per cent.
The figures encouraged the market that is already optimistic there will be a significant outcome from Thursday night’s European Central Bank (ECB) meeting. The ECB is expected to discuss the possible launch of a government bond-buying program to decrease borrowing costs for debt-laden euro zone nations.
FxEmpire provides in-depth analysis for each currency and commodity we review. Fundamental analysis is provided in three components. We provide a detailed monthlyanalysis and forecast at the beginning of each month. Then we provide more recent analysis and information in our weekly reports and we provide daily updates and outlooks
Economic Data July 31, 2012 actual v. forecast
|
Date |
Time |
Currency |
Importance |
Event |
Actual |
Forecast |
Previous |
|
00:00 |
KRW |
South Korean Industrial Production (MoM) |
-0.4% |
-0.1% |
1.3% |
||
|
00:15 |
JPY |
Manufacturing PMI |
47.9 |
49.9 |
|||
|
00:30 |
JPY |
Unemployment Rate |
4.3% |
4.4% |
4.4% |
||
|
00:30 |
JPY |
Household Spending (YoY) |
1.6% |
2.9% |
4.0% |
||
|
01:30 |
TWD |
Taiwanese GDP (YoY) |
-0.16% |
0.50% |
0.39% |
||
|
02:30 |
JPY |
Average Cash Earnings (YoY) |
0.6% |
0.1% |
-1.1% |
||
|
02:30 |
AUD |
Building Approvals (MoM) |
-2.5% |
-14.2% |
27.0% |
||
|
02:30 |
AUD |
Private Sector Credit (MoM) |
0.3% |
0.4% |
0.5% |
||
|
03:00 |
SGD |
Singaporean Unemployment Rate |
2.0% |
2.1% |
|||
|
03:00 |
SGD |
Singaporean Bank Landing (MoM) |
452.57B |
445.00B |
|||
|
04:00 |
NZD |
Business Confidence |
15.10 |
12.60 |
Upcoming Economic Events that affect the AUD, NZD, JPY and USD
|
Date |
Time |
Currency |
Event |
Previous |
|
Aug 1 |
1:30 |
AUD |
-1.1% |
|
|
12:15 |
USD |
176K |
||
|
14:00 |
USD |
49.7 |
||
|
18:15 |
USD |
|||
|
Aug 2 |
1:30 |
AUD |
0.5% |
|
|
1:30 |
AUD |
-0.29B |
||
|
12:30 |
USD |
|||
|
14:00 |
USD |
0.7% |
||
|
23:30 |
AUD |
48.8 |
||
|
Aug 3 |
12:30 |
USD |
80K |
|
|
12:30 |
USD |
8.2% |
||
|
12:30 |
USD |
0.3% |
||
|
14:00 |
USD |
52.1 |
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Originally posted here
