By FXEmpire.com
Analysis and Recommendation:
The AUD/USD is gaining momentum on two fronts this morning. Anticipation of monetary stimulus in the EU, and also on positive eco data. The Aussie Trade Balance reported well above the expected forecast compounded with retail sales reporting in well above forecast, the AUD have been able to fend off the growing strength of the USD. The Aussie is headed back to the 1.05 price level trading at 1.0481 and rising.
After the FOMC held monetary policy, the USD gained momentum especially against the commodity currencies, pushing the AUD and the NZD lower.
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 August 2, 2012 actual v. forecast
|
Date |
Currency |
Event |
Actual |
Forecast |
Previous |
|
Aug. 02 |
JPY |
10-Year JGB Auction |
0.772% |
0.836% |
|
|
JPY |
Monetary Base (YoY) |
8.6% |
6.2% |
5.9% |
|
|
NZD |
ANZ Commodity Price Index (MoM) |
-0.5% |
-2.4% |
||
|
AUD |
Retail Sales (MoM) |
1.0% |
0.7% |
0.8% |
|
|
AUD |
Trade Balance |
0.01B |
-0.35B |
-0.31B |
Upcoming Economic Events that affect the AUD, NZD, JPY and USD
|
Date |
Time |
Currency |
Event |
Previous |
|
Aug 3 |
12:30 |
USD |
Non-Farm Employment Change |
80K |
|
12:30 |
USD |
Unemployment Rate |
8.2% |
|
|
12:30 |
USD |
Average Hourly Earnings m/m |
0.3% |
|
|
14:00 |
USD |
ISM Non-Manufacturing PMI |
52.1 |
Government Bond Auctions
Date Time Country
Aug 06 09:10 Norway
Aug 07 00:30 Japan
Aug 07 09:15 Austria
Aug 07 14:30 UK
Aug 07 17:00 US
Aug 08 09:30 Germany
Aug 08 10:00 Norway
Aug 08 15:30 Italy
Aug 08 17:00 US
Aug 09 15:30 Italy
Aug 09 17:00 US
Aug 10 10:00 Belgium
Click here to read AUD/USD Technical Analysis.
Originally posted here
