By FXEmpire.com
Analysis and Recommendation: (close of Asian session)
The AUD/USD has moved back up a few pips in today’s session. Finally some good news in Australia, the statistics bureau released the monthly unemployment data showing drop in unemployment to 4.9 percent from the previous 5.2%. The earlier report surprised the markets, with today’s release; it seems that last month’s report was just a statistical fluke.
There was also positive data in the employment change report, helping boost the Aussie that has been tumbling all week against the safe harbor USD.
Today’s release of disappointing Chinese data, caused some weakness for the Aussie, as the country depends on their trade business with China. Although China’s trade balance climbed again this month, manufacturing was weak.
The Aussie is currently trading at 1.012
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Economic Reports for May 9-10, 2012 actual v. forecast
|
May 10 |
AUD |
Employment Change |
15.5K |
-5.5K |
44.0K |
|
AUD |
Unemployment Rate |
4.9% |
5.3% |
5.2% |
|
|
CNY |
Chinese Trade Balance |
18.40B |
8.50B |
5.35B |
Upcoming Economic Events that affect the AUD, NZD, JPY, CNY and USD
|
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 11 09:10 Italy BOT auction
May 11 10:00 Belgium
Click here a current AUD/USD Chart.
Originally posted here
