By FXEmpire.com
Analysis and Recommendation: (close of Asian session)
The AUD/USD has fallen to trade at 1.0047. Australia continues to suffer due to softness in the Pacific, with both China and Japan showing lackluster growth and production, which has a negative affect on the Aussie as there are closest trading partners and Australia relies on this business for their growth and economic stability. Yesterday the Australian dollar rose on better than expected employment figures, which showed an increase of 15,000 jobs in April. The Australian dollar has fallen on continued concerns around the eurozone. This was later offset by the continued push to safe haven assets as the USD remains at record levels. This morning, the currency was trading at 1.0054, down from 1.0118 cents on Thursday.
Greece’s political situation continued to plague the market, with investors leaving the euro in favor of US dollars. ‘The euro is close to yearly lows, and is looking very vulnerable going into the weekend.
When the euro’s being sold, the US dollar is being bought, as a safe-haven at the moment, and that’s evident in the DXY (US dollar index).
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Economic Data for May 10-11, 2012 actual v. forecast
|
EUR |
Dutch CPI (YoY) |
2.40% |
2.40% |
2.50% |
|
|
GBP |
Industrial Production (MoM) |
-0.3% |
-0.3% |
0.4% |
|
|
GBP |
Manufacturing Production (MoM) |
0.9% |
0.5% |
-1.1% |
|
|
GBP |
Industrial Production (YoY) |
-2.6% |
-2.6% |
-2.3% |
|
|
GBP |
Interest Rate Decision |
0.50% |
0.50% |
0.50% |
|
|
GBP |
BOE QE Total |
325B |
325B |
325B |
|
|
USD |
Import Price Index (MoM) |
-0.5% |
-0.2% |
1.5% |
|
|
Trade Balance |
0.4B |
1.0B |
0.3B |
||
|
USD |
Trade Balance |
-51.8B |
-50.0B |
-45.4B |
|
|
USD |
Initial Jobless Claims |
367K |
369K |
368K |
|
|
USD |
Continuing Jobless Claims |
3229K |
3278K |
3290K |
|
|
GBP |
NIESR GDP Estimate |
0.1% |
-0.2% |
||
|
USD |
Federal Budget Balance |
59.1B |
30.0B |
-198.2B |
|
|
May 11 |
GBP |
Nationwide Consumer Confidence |
44 |
52 |
53 |
|
CNY |
Chinese CPI (YoY) |
3.4% |
3.3% |
3.6% |
|
|
CNY |
Chinese PPI (YoY) |
-0.7% |
-0.5% |
-0.3% |
|
|
CNY |
Chinese CPI (MoM) |
-0.1% |
-0.2% |
0.2% |
Upcoming Economic Events that affect the AUD, NZD, JPY, CNY and USD
|
May 14 |
02:30 |
AUD |
Home Loans (MoM) |
-2.5% |
|
|
May 16 |
01:30 |
AUD |
Westpac Consumer Sentiment |
-1.60% |
|
|
02:30 |
AUD |
Wage Price Index (QoQ) |
1.0% |
||
|
23:45 |
NZD |
PPI Input (QoQ) |
0.5% |
||
|
May 17 |
00:50 |
JPY |
GDP (QoQ) |
0.9% |
-0.2% |
|
05:30 |
JPY |
Industrial Production (MoM) |
1.0% |
Government Bond Auctions (this week)
Date Time Country
May 14 08:30 Spain
May 14 09:10 Italy
May 14 09:10 Slovakia
May 14 09:10 Norway
May 14 09:30 Germany
May 14 10:00 Norway
May 15 09:30 Belgium
May 15 09:30 UK
May 16 08:50 France
May 16 09:10 Sweden
May 16 09:30 Germany
May 16 09:50 France
May 16 14:30 Sweden
May 17 08:30 Spain
May 17 15:00 US
May 17 17:00 US
Originally posted here
