By FXEmpire.com

Analysis and Recommendation:

The AUD/USD is trading at 1.0171 as the Aussie faces a barrage of eco data over the next few days.

The USD continues to surge against its trading partners, as speculators look to the US Fed to inject some stimulus into the stalled economy.

The AUD is weak on two days of negative eco reports from China. Yesterday, CPI and PPI both reported under forecast and today, the Chinese Trade Balance was well over forecast, with exports rising, but not as high as the prior month, but imports tumbled, which hurts the commodity currencies that export to China. The drop was substantial and out of line with forecast.

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 July 9-10, 2012 actual v. forecast

Date

Currency

Event

Actual

Forecast

Previous

Jul. 09

JPY

Adjusted Current Account

0.28T

0.42T

0.29T

CNY

Chinese CPI (YoY)

2.2%

2.3%

3.0%

CNY

Chinese PPI (YoY)

-2.1%

-1.9%

-1.4%

CNY

Chinese CPI (MoM)

-0.6%

-0.3%

-0.3%

CHF

Unemployment Rate

2.9%

3.2%

2.9%

EUR

ECB President Draghi Speaks

NZD

NZIER Business Confidence

-4

13

Jul. 10

GBP

RICS House Price Balance

-22%

-16%

-17%

AUD

NAB Business Confidence

-3

-2

CNY

Chinese Trade Balance

31.73B

21.00B

18.70B

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

Date

Time

Currency

Event

Previous

Jul 11

0:30

AUD

Westpac Consumer Sentiment

0.3%

1:30

AUD

Home Loans m/m

0.2%

12:30

USD

Trade Balance

-50.1B

14:30

USD

Crude Oil Inventories

-4.3M

Jul 12

1:00

AUD

MI Inflation Expectations

2.3%

1:30

AUD

Employment Change

38.9K

1:30

AUD

Unemployment Rate

5.1%

12:30

USD

Unemployment Claims

12:30

USD

Import Prices m/m

-1.0%

18:00

USD

Federal Budget Balance

-124.6B

Jul 13

12:30

USD

PPI m/m

-1.0%

13:55

USD

Prelim UoM Consumer Sentiment

73.2

Click here for updated AUD/USD News.

Originally posted here