By FXEmpire.com
Analysis and Recommendation:
The AUD/USD is trading at 1.0317 picking up momentum on the weakening USD.
The Aussie is just following suit in terms of what happened with the Dow Jones.
Although comments from an ECB (European Central Bank) policy maker regarding the possibility of the ESM (European Stability Fund) gaining a banking license also gave a bit of support to markets. ECB council member Ewald Nowotny said on Wednesday that if the ESM obtained a license, it could borrow funds from the ECB to help bailout weak euro zone countries. More shenanigans for the EU and the ECB.
The RBA maintains a 1.0%-3.0% inflation target and is likely to cut rates further in order to support growth. However, expectations for easing exceed that which the RBA will execute, and expect AUD to strengthen as the expectations increase.
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 26, 2012 actual v. forecast
|
Date |
Currency |
Event |
Actual |
Forecast |
Previous |
|
Jul. 26 |
KRW |
South Korean GDP (QoQ) |
0.4% |
0.5% |
0.9% |
|
KRW |
South Korean GDP (YoY) |
2.4% |
2.6% |
2.8% |
|
|
JPY |
CSPI (YoY) |
-0.3% |
0.0% |
0.1% |
|
|
JPY |
BoJ Governor Shirakawa Speaks |
||||
|
SGD |
Singaporean Industrial Production (YoY) |
7.6% |
3.2% |
6.8% |
Upcoming Economic Events that affect the AUD, NZD, JPY and USD
|
Date |
Time |
Currency |
Event |
Previous |
|
Jul 27 |
12:30 |
USD |
Advance GDP q/q |
1.9% |
|
13:55 |
USD |
Revised UoM Consumer Sentiment |
72.0 |
Click here a current AUD/USD Chart.
Originally posted here
