By FXEmpire.com

Analysis and Recommendation:

The AUD/USD is trading at 1.0568 taking clues from the global markets and the region currency strengths. With the central banks distraction behind, investors are once again focusing on eco data, and there were several bits of overlooked eco reports in Oz, last week that have helped lift the currency well over the 1.05 range and it has been able to sustain this price.

The Aussie moved up after good news on US jobs growth and the Spanish government debt crisis prompted market optimism about the global economy.

Also over the weekend, the PBoC stated it will keep pursuing a “prudent” monetary policy and the nation’s economy will maintain stable growth even amid the risk the global recovery will falter.

The RBA is expected to hold rates and policy in its meeting this week.

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 August 6, 2012 actual v. forecast

Date

Currency

Event

Actual

Forecast

Previous

Aug. 06

AUD

MI Inflation Gauge (MoM)

0.2%

-0.2%

TWD

Taiwanese CPI (YoY)

2.46%

2.02%

1.77%

AUD

ANZ Job Advertisements (MoM)

-0.80%

-1.10%

Upcoming Economic Events that affect the AUD, NZD, JPY and USD

Date

Time

Currency

Event

Forecast

Previous

Aug 7

4:30

AUD

Cash Rate

3.50%

3.50%

4:30

AUD

RBA Rate Statement

23:50

JPY

Current Account

0.28T

Aug 8

1:30

AUD

Home Loans m/m

-1.2%

12:30

USD

Prelim Nonfarm Productivity q/q

-0.9%

12:30

USD

Prelim Unit Labor Costs q/q

1.3%

14:30

USD

Crude Oil Inventories

22:45

NZD

Employment Change q/q

0.4%

22:45

NZD

Unemployment Rate

6.7%

23:50

JPY

Core Machinery Orders m/m

-14.8%

Aug 9

1:30

AUD

Employment Change

-27.0K

1:30

AUD

Unemployment Rate

5.2%

12:30

USD

Trade Balance

-48.7B

12:30

USD

Unemployment Claims

Aug 10

1:30

AUD

RBA Monetary Policy Statement

12:30

USD

Import Prices m/m

-2.7%

18:00

USD

Federal Budget Balance

-59.7B

Government Bond Auctions

Date Time Country

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 a current AUD/USD Chart.

Originally posted here