By FXEmpire.com
Introduction: The Australian dollar still isn’t in its good old days, but the performance is definitely improving. Resistance lines tend to work in a smoother manner than support lines, but they also work well. The pair move well together, not much volatility, but easy to chart and easy to trade with low risk factors
Weekly Analysis and Recommendation:
The AUD/USD lost some strength this week ending at 1.0418. The Australian dollar is higher on comments by German Chancellor Angela Merkel about the role of the European Central Bank (ECB) in the region’s debt crisis. Mrs. Merkel said she supported the idea of the ECB coming to the aid of ailing euro zone countries. However, there would be several events in Europe to influence the market next week. The Greek prime minister (Antonis Samaras) is meeting with the president of the euro zone group (Jean-Claude Juncker), as well as Angela Merkel and the French president (Francois Hollande) later on in the week.
Let’s face it the commodity currencies are watching for China, after comments from the Premier, markets are waiting PBoC stimulus which will be a boost to the entire Asian-Pacific Rim. Also a stronger US weighed on the Aussie this week
|
Date |
Open |
High |
Low |
Change % |
|
|
Aug 17, 2012 |
1.0418 |
1.0523 |
1.0525 |
1.0411 |
-1.01% |
|
Aug 16, 2012 |
1.0524 |
1.0494 |
1.0529 |
1.0475 |
0.29% |
|
Aug 15, 2012 |
1.0494 |
1.0487 |
1.0514 |
1.0455 |
0.07% |
|
Aug 14, 2012 |
1.0487 |
1.0512 |
1.0541 |
1.0478 |
-0.24% |
|
Aug 13, 2012 |
1.0512 |
1.0552 |
1.0574 |
1.0497 |
-0.38% |
FxEmpire provides in-depth analysis for each currency and commodity we review. Fundamental analysis is provided in three components. We provide a detailed monthlyanalysis and forecast at the beginning of each month. Then we provide more recent analysis and information in our weekly reports and we provide daily updates and outlooks.
Major Economic Events for the week of August 13-17, 2012 actual v. forecast for Yen, the Aussie, the Kiwi and USD
|
Date |
Time |
Currency |
Event |
Actual |
Forecast |
Previous |
|
Aug 13 |
22:45 |
NZD |
Core Retail Sales q/q |
0.9% |
1.0% |
-1.4% |
|
Aug 14 |
12:30 |
USD |
Core Retail Sales m/m |
0.8% |
0.4% |
-0.8% |
|
12:30 |
USD |
PPI m/m |
0.3% |
0.3% |
0.1% |
|
|
12:30 |
USD |
Retail Sales m/m |
0.8% |
0.3% |
-0.7% |
|
|
Aug 15 |
12:30 |
USD |
Core CPI m/m |
0.1% |
0.2% |
0.2% |
|
Aug 16 |
12:30 |
USD |
Building Permits |
0.81M |
0.77M |
0.76M |
|
12:30 |
USD |
Unemployment Claims |
366K |
365K |
364K |
|
|
14:00 |
USD |
Philly Fed Manufacturing Index |
-7.1 |
-4.7 |
-12.9 |
|
|
22:45 |
NZD |
PPI Input q/q |
0.6% |
-0.2% |
0.3% |
|
|
Aug 17 |
13:55 |
USD |
Prelim UoM Consumer Sentiment |
73.6 |
72.5 |
72.3 |
Historical: From 2010 to present
Highest: 1.1080USD on Jul 27, 2011
Average: 0.9898 USD over this period
Lowest: 0.8067 USD May 25, 2010
Economic Highlights of the coming week that affect the AUD, JPY, NZD and USD
|
Date |
Time |
Currency |
Event |
Previous |
|
Aug 21 |
1:30 |
AUD |
Monetary Policy Meeting Minutes |
|
|
3:00 |
NZD |
Inflation Expectations q/q |
2.4% |
|
|
23:50 |
JPY |
Trade Balance |
-0.30T |
|
|
Aug 22 |
0:30 |
AUD |
MI Leading Index m/m |
0.8% |
|
14:00 |
USD |
Existing Home Sales |
4.37M |
|
|
14:30 |
USD |
Crude Oil Inventories |
-3.7M |
|
|
18:00 |
USD |
FOMC Meeting Minutes |
||
|
Aug 23 |
12:30 |
USD |
Unemployment Claims |
366K |
|
13:00 |
USD |
Flash Manufacturing PMI |
51.4 |
|
|
14:00 |
USD |
New Home Sales |
350K |
|
|
23:30 |
AUD |
RBA Gov Stevens Speaks |
||
|
Aug 24 |
0:00 |
AUD |
CB Leading Index m/m |
0.4% |
|
12:30 |
USD |
Core Durable Goods Orders m/m |
-1.1% |
|
|
12:30 |
USD |
Durable Goods Orders m/m |
1.6% |
Click here a current AUD/USD Chart.
Originally posted here
