By FXEmpire.com
Analysis and Recommendation:
The AUD/USD hit a seven month low to end the month. The Aussie is trading at 0.9708. The USD continues to garner strength as markets remain in risk aversion safe haven mode. The dollar index pushed broke over the 83.00 level yesterday.
It is a difficult scenario for all commodity currencies.
In OZ today, Building Approval came in well under forecast at -8.7% but that was offset by a better then expected reading of Private New Capital Expenditure, which registered a 6.1% increase when only 4% was forecast.
The greenback is expected to remain strong, although it is looking at 2 days of important eco data, but markets seem to have shaken off negative housing data yesterday.
Spain, Greece and Italy are the main focus of the markets.
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 for May 30-31, 2012 actual v. forecast
|
CHF |
KOF Leading Indicators |
0.81 |
0.48 |
0.43 |
|
|
USD |
Pending Home Sales (MoM) |
-5.5% |
0.1% |
3.8% |
|
|
May 31 |
KRW |
South Korean Industrial Prod |
0.0% |
0.3% |
0.3% |
|
JPY |
Industrial Production (MoM) |
0.2% |
0.5% |
1.3% |
|
|
AUD |
Building Approvals (MoM) |
-8.7% |
0.7% |
6.0% |
|
|
AUD |
Private New Capital Expend |
6.1% |
4.0% |
-0.7% |
Upcoming Economic Events that affect the AUD, NZD, JPY and USD
|
Date |
Time |
Currency |
Previous |
|
|
Jun 1 |
12:30 |
USD |
Non-Farm Employment Change |
115K |
|
12:30 |
USD |
Unemployment Rate |
8.1% |
|
|
12:30 |
USD |
Core PCE Price Index m/m |
0.2% |
|
|
12:30 |
USD |
Personal Spending m/m |
0.3% |
|
|
14:00 |
USD |
ISM Manufacturing PMI |
54.8 |
Government Bond Auctions
Date Time Country
May 31 14:30 Sweden
Jun 04 10:00 Norway
Jun 05 00:30 Japan Jun 05 09:30
Jun 05 14:30 Sweden
Jun 06 09:30 Germany
Jun 06 09:30 Portugal
Jun 06 14:30 UK
Jun 07 00:30 Japan
Jun 07 08:30 Spain
Jun 07 08:50 France
Jun 07 09:10 Sweden
Jun 07 15:00 US
Jun 08 10:00 Belgium
Jun 08 15:30 Italy
Click here for further AUD/USD Forecast.
Originally posted here
