By FXEmpire.com
Analysis and Recommendation: (close of Asian session)
The AUD/USD continues to decline, trading at the close of the Asian markets at 1.0074.
The Australian dollar has fallen to its lowest point in more than 120days after Greece’s Syriza left coalition leader, Alexis Tsipras, said he rejected Greece’s bailout deal.
Today the Aussie was trading at 100.75, down from 101.70, on concern that Greek politicians won’t reach an agreement on the country’s debt bailout.
The dollar had pushed lower after Prime Minister Julia Gillard said she would provide a tax cut to Australian businesses, even though this did not appear in the budget plan.
This followed Tuesday night’s release of Treasurer Wayne Swan’s fifth budget, which included a forecast surplus of $1.5 billion for the 2012/13 year.
Economic Reports for May 8-9, 2012 actual v. forecast
|
May 8 |
EUR |
German Industrial Production (MoM) |
2.8% |
0.8% |
-0.3% |
|
Housing Starts |
244.9K |
204.0K |
214.8K |
Upcoming Economic Events that affect the AUD, NZD, JPY, CNY and USD
|
May 10 |
02:30 |
AUD |
Employment Change |
-5.5K |
44.0K |
|
02:30 |
AUD |
Unemployment Rate |
5.3% |
5.2% |
|
|
TBD |
CNY |
Chinese Trade Balance |
7.93B |
5.35B |
|
|
13:30 |
USD |
Import Price Index (MoM) |
-0.2% |
1.3% |
|
|
13:30 |
USD |
Trade Balance |
-50.0B |
-46.0B |
|
|
13:30 |
USD |
Initial Jobless Claims |
369K |
365K |
|
|
13:30 |
USD |
Continuing Jobless Claims |
3278K |
3276K |
|
|
14:30 |
USD |
Fed Chairman Bernanke Speaks |
|||
|
19:00 |
USD |
Federal Budget Balance |
30.0B |
-198.2B |
|
|
May 11 |
02:30 |
CNY |
Chinese PPI (YoY) |
-0.3% |
|
|
02:30 |
CNY |
Chinese CPI (MoM) |
0.2% |
||
|
06:30 |
CNY |
Chinese Fixed Asset Investment (YoY) |
20.9% |
||
|
06:30 |
CNY |
Chinese Industrial Production (YoY) |
11.9% |
||
|
06:30 |
CNY |
Chinese Retail Sales (YoY) |
15.2% |
||
|
13:30 |
USD |
Core PPI (MoM) |
0.3% |
||
|
13:30 |
USD |
PPI (MoM) |
0.0% |
||
|
14:55 |
USD |
Michigan Consumer Sentiment |
76.4 |
Government Bond Auctions (this week)
Date Time Country
May 10 15:00 US
May 10 17:00 US
May 11 09:10 Italy BOT auction
May 11 10:00 Belgium
Click here a current AUD/USD Chart.
Originally posted here
