By FX Empire.com
Economic Events: (GMT)
Close of Asian Markets
00:00 AUD HIA New Home Sales (MoM) 6.8%
Housing Industry Association (HIA) New Home Sales measures the change in the number of newly constructed homes sold.
A higher than expected reading should be taken as positive/bullish for the AUD, while a lower than expected reading should be taken as negative/bearish for the AUD.
00:30 AUD House Price Index (QoQ) -0.60% -1.20%
The Australian House Price Index (HPI) measures the change in the selling price of homes in the nation’s eight state capitals. It is a leading indicator of health in the housing sector.
A higher than expected reading should be taken as positive/bullish for the AUD, while a lower than expected reading should be taken as negative/bearish for the AUD.
13:15 USD ADP Nonfarm Employment Change 190K 325K
The ADP National Employment Report is a measure of the monthly change in non-farm, private employment, based on the payroll data of approximately 400,000 U.S. business clients. The release, two days ahead of government data, is a good predictor of the government’s non-farm payroll report. The change in this indicator can be very volatile.
A higher than expected reading should be taken as positive/bullish for the USD, while a lower than expected reading should be taken as negative/bearish for the USD.
15:00 USD ISM Manufacturing Index 54.5 53.9
The Institute of Supply Management (ISM) Manufacturing Purchasing Managers Index (PMI) rates the relative level of business conditions including employment, production, new orders, prices, supplier deliveries, and inventories.
The data is compiled from a survey of approximately 400 purchasing managers in the manufacturing industry.
On the index, a level above 50.0 indicates industry expansion, below indicates contraction.
A higher than expected reading should be taken as positive/bullish for the USD, while a lower than expected reading should be taken as negative/bearish for the USD.
21:45 NZD Employment Change (QoQ) 0.2%
Employment Change measures the change in the number of people employed. Job creation is an important indicator of consumer spending.
A higher than expected reading should be taken as positive/bullish for the NZD, while a lower than expected reading should be taken as negative/bearish for the NZD.
21:45 NZD Unemployment Rate 6.6%
The Unemployment Rate measures the percentage of the total work force that is unemployed and actively seeking employment during the previous quarter.
A higher than expected reading should be taken as negative/bearish for the NZD, while a lower than expected reading should be taken as positive/bullish for the NZD
AUD/USD Fundamental Analysis Feb 1, 2012 Forecast
Analysis and Recommendation:
AUD/USD was trading at 1.0632 up from the opening of 1.0599.
The USD fell against most major currencies this morning as Australian and New Zealand dollars attracted investors who by mid-session trading determined that the EU Summit had reached a successful conclusion, even without the resolution of Greece. The commitment of the 26 nations is strong and they are determined to work their way out of the debt crisis. US economic data has been weak in the past few days, not supporting Monday’s surge in the USD.
Scheduled Sovereign Bond Sales
Feb 01 10:10 Sweden Auctions T-bills
Feb 01 10:30 Germany Eur 5.0bn 2.0% Jan 2022 Bund
Feb 01 10:30 Portugal Eur 0.75-1.0bn 3M T-bill
Feb 01 10.30 UK Auctions 5.0% 2025 conventional Gilt
Feb 01 15:30 Sweden Details nominal bond auction on Feb 08
Feb 01 16:00 US
Announces details of 3Y Notes on Feb 07, 10Y Notes on Feb
08 & 30Y Bonds on Feb 09
Feb 02 09:50 France OAT Auction
Feb 02 10.30 UK Auctions 0.125% 2029
Originally posted here
