By FXEmpire.com
Analysis and Recommendation: (close of Asian session)
The AUD/USD is trading at 1.0185. The Aussie fell on Friday after comments from the RBA to high a recent low, on Monday the AUD was able to regain some strength to move back from the 1.01000 levels but today’s trade balance figures continue to weaken the Australia dollar.
Australia’s trade deficit widened in March, exceeding forecasts of an increased deficit, according to data by the Australian Bureau of Statistics.
According to the figures, Australia’s trade deficit for the month of March was a seasonally adjusted $1.59 billion, a rise of $833 million on last month.
This compares with an upwardly revised deficit of $754 million in February, a rise of $833 million.
Economists’ forecasts had centered on a deficit of $1.2 billion in March.
During March, exports rose 2.0 per cent in adjusted terms while imports lifted 5.0 per cent, the ABS said on Tuesday.
Economic Reports for May 7-8, 2012 actual v. forecast
|
AUD |
Building Approvals (MoM) |
7.4% |
3.1% |
-8.8% |
|
|
AUD |
NAB Business Confidence |
4 |
3 |
||
|
AUD |
Retail Sales (MoM) |
0.9% |
0.2% |
0.3% |
|
|
CHF |
Unemployment Rate |
3.1% |
3.1% |
3.0% |
|
|
CHF |
CPI (MoM) |
0.1% |
0.2% |
0.6% |
|
|
EUR |
German Factory Orders (MoM) |
2.2% |
0.5% |
0.6% |
|
|
Building Permits (MoM) |
4.7% |
-1.5% |
7.6% |
||
|
May 08 |
GBP |
RICS House Price Balance |
-19% |
-10% |
-10% |
|
AUD |
Trade Balance |
-1.59B |
-1.40B |
-0.75B |
Upcoming Economic Events that affect the AUD, NZD, JPY and CNY
|
May 08 |
02:30 |
AUD |
Trade Balance |
-1.59B |
-1.40B |
-0.75B |
|
16:45 |
USD |
FOMC Member Fisher Speaks |
||||
|
May 10 |
02:30 |
AUD |
Employment Change |
-5.5K |
44.0K |
|
|
02:30 |
AUD |
Unemployment Rate |
5.3% |
5.2% |
||
|
Tentative |
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 09 09:10 Sweden
May 09 09:30 Germany
May 09 09:30 Swiss
May 09 09:30 UK
May 09 14:30 Sweden
May 09 15:30 Italy
May 09 17:00 US
May 10 15:00 US
May 10 17:00 US
May 11 09:10 Italy BOT auction
May 11 10:00 Belgium
Click here for updated AUD/USD News.
Originally posted here
