By FXEmpire.com
Analysis and Recommendation:
The AUD/USD climbed this morning to trade at 1.0125 following most of the global commodity currencies, as investors stepped into a bit riskier assets yesterday after the US housing data and durable goods data gave the markets a boost.
Australia also reported higher new home sales this month then in the prior month, giving some added strength to the Aussie.
Today brings markets the formal opening of the EU Summit and the side shows that go along with it. We now begin two days of news flows, press releases, and personal and political agendas. With Germany already bickering and demanding, Italy’s Monti, remains in denial and Spain continues to try to wrangle a bailout guised as anything more than a bailout. And then we have Greece, blackmailing the EU, if you are I did what they are doing; they would call it criminal, demanding another 20billion euros.
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 27-28, 2012 actual v. forecast
|
Date |
Currency |
Importance |
Event |
Actual |
Forecast |
Previous |
|
USD |
Core Durable Goods Orders (MoM) |
0.4% |
0.7% |
-0.6% |
||
|
USD |
Durable Goods Orders (MoM) |
1.1% |
0.4% |
-0.2% |
||
|
USD |
Pending Home Sales (MoM) |
5.9% |
1.0% |
-5.5% |
||
|
Jun. 28 |
JPY |
Retail Sales (YoY) |
3.6% |
3.0% |
5.7% |
|
|
AUD |
HIA New Home Sales (MoM) |
0.7% |
6.9% |
Upcoming Economic Events that affect the AUD, NZD, JPY and USD
|
Date |
Time |
Currency |
Event |
Previous |
|
Jun 29 |
12:30 |
USD |
Core PCE Price Index m/m |
0.1% |
|
12:30 |
USD |
Personal Spending m/m |
0.3% |
|
|
13:45 |
USD |
Chicago PMI |
52.7 |
|
|
13:55 |
USD |
Revised UoM Consumer Sentiment |
74.1 |
Click here for further AUD/USD Forecast.
Originally posted here
