By FXEmpire.com

Analysis and Recommendation:

The AUD/USD is trading at 1.0155, after the Fed announcement yesterday. The AUD was up in early trading but fell, after the release of the Chinese HSBC PMI. The numbers continue to show a slowdown in the Chinese manufacturing sector, as China goes through their “repositioning”.

A slowdown in China compounded with a slowdown in the US and contagion and the ongoing financial crisis in Europe, are taking a toll on commodity currencies and smaller export economies. Australia’s leading trade partners are China and Japan.

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 20-21, 2012 actual v. forecast

Date

Currency

Event

Actual

Forecast

Previous

USD

Interest Rate Decision

0.25%

0.25%

0.25%

USD

FOMC Statement

USD

Fed Chairman Bernanke Speaks

NZD

GDP (QoQ)

1.1%

0.5%

0.4%

Jun. 21

CNY

Chinese HSBC Manufacturing PMI

48.10

48.40

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

There are no scheduled major economic events for the Asian Pacific Region on the 22nd.

Upcoming Government Bond Auctions

Date Time Country

Jun 22 15:30 Italy

Jun 25 09:10 Norway

Jun 25 09:30 Germany

Jun 25 10:00 Belgium

Jun 25 15:30 Italy

Jun 26 00:30 Japan

Jun 26 08:30 Holland

Jun 26 08:30 Spain

Jun 26 09:10 Italy

Jun 26 09:30 UK

Jun 26 14:30 UK

Jun 26 17:00 US

Click here for further AUD/USD Forecast.

Originally posted here