Economic Events: (GMT)
Close of Asian Markets
13:30 USD Core Durable Goods Orders (MoM) 0.9% 0.3%
13:30 USD Durable Goods Orders (MoM) 2.0% 3.7%
Durable Goods Orders measures the change in the total value of new orders for long lasting manufactured goods, excluding transportation items. Because aircraft orders are very volatile, the core number gives a better gauge of ordering trends. A higher reading indicates increased manufacturing activity.
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.
13:30 USD Initial Jobless Claims 370K 352K
13:30 USD Continuing Jobless Claims 3432K
Initial Jobless Claims measures the number of individuals who filed for unemployment insurance for the first time during the past week. This is the earliest U.S. economic data, but the market impact varies from week to week. Continuing Jobless Claims measures the number of unemployed individuals who qualify for benefits under unemployment insurance.
A higher than expected reading should be taken as negative/bearish for the USD, while a lower than expected reading should be taken as positive/bullish for the USD.
15:00 USD New Home Sales 320K 315K
New Home Sales measures the annualized number of new single-family homes that were sold during the previous month. This report tends to have more impact when it’s released ahead of Existing Home Sales because the reports are tightly correlated.
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.
AUD/USD Fundamental Analysis Jan. 26, 2012 Forecast
Analysis and Recommendation:
AUD/USD was trading at 1.0526 up from the opening at 1.0494. The Australian CPI came in unexpected flat, adding to the hopes of a rate cut at the RBA meeting. The thought of a rate cut gave the Aussie some added leverage, pushing it up in today’s session. CPI was unexpectedly flat in the fourth quarter, confounding expectations for a 0.2% rise, after a 0.6% rise the previous quarter. The report also showed CPI rose more-than-expected in the fourth quarter, up 0.6% after a 0.4% rise the previous quarter.
The duo was likely to find support at 1.0427.
The pair will respond to the FOMC statements due out Wednesday afternoon in the USA.
Upcoming Govt Bond Sales Dates
Jan 26 10:10 Italy Auctions CTZ/BTPei
Jan 26 18:00 US Auctions 7Y Notes
Jan 27 10:10 Italy BOT auction
Originally posted here
