By FXEmpire.com
Analysis and Recommendation:
The AUD/USD is off at 0.9942.The current Risk-off sentiment makes sense, given the event risk coming up, with the Greek elections, the FOMC (Federal Open Market Committee) meeting next week, and a meeting of European leaders at the end of the month.
Addressing the federal government’s economic forum in Brisbane, Reserve Bank of Australia Governor Glenn Stevens said the high value of the dollar, currently worth around 99 US cents, was good news for consumers.
“We shouldn’t wish too quickly for a low exchange rate,” he told the forum.
He said the current value of the dollar meant things like petrol, imported goods and overseas travel were currently cheaper than they would otherwise have been.
“As consumers, the exchange rate is one of the devices that is imparting to us the higher wealth that the mining boom brings.”
Mr. Stevens acknowledged the exchange rate was hurting many businesses but said it was time for those affected to adapt by boosting productivity.
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 June 12 -13, 2012 actual v. forecast
|
Date |
Currency |
Actual |
Forecast |
Previous |
|
GBP |
Manufacturing Production m/m |
-0.7% |
0.0% |
0.9% |
|
USD |
Import Prices m/m |
-1.0% |
-1.0% |
0.0% |
|
GBP |
NIESR GDP Estimate |
0.1% |
-0.1% |
|
|
USD |
Federal Budget Balance |
-124.6B |
-112.7B |
59.1B |
|
JPY |
Core Machinery Orders m/m |
5.7% |
2.0% |
-2.8% |
|
Jun 13 |
AUD |
Westpac Consumer Sentiment |
0.3% |
0.8% |
Upcoming Economic Events that affect the AUD, NZD, JPY and USD
|
Date |
Time |
Currency |
Event |
Previous |
|
Jun 14 |
1:00 |
AUD |
3.1% |
|
|
12:30 |
USD |
0.2% |
||
|
12:30 |
USD |
377K |
||
|
12:30 |
USD |
0.0% |
||
|
12:30 |
USD |
-124B |
||
|
Jun 15 |
12:30 |
USD |
17.1 |
|
|
13:00 |
USD |
36.2B |
||
|
13:15 |
USD |
79.2% |
||
|
13:15 |
USD |
1.1% |
||
|
13:55 |
USD |
79.3 |
Click here a current AUD/USD Chart.
Originally posted here
