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 ended the week at 1.0080 as shown in the chart below. The Aussie gained all week agains the USD, as the DX continued to drop on lackluster US eco data and speculators shifted to gold for safety.
|
Date |
Open |
High |
Low |
Change % |
|
|
Jun 15, 2012 |
1.0080 |
1.0010 |
1.0090 |
0.9995 |
0.70% |
|
Jun 14, 2012 |
1.0010 |
0.9950 |
1.0033 |
0.9922 |
0.60% |
|
Jun 13, 2012 |
0.9950 |
0.9946 |
1.0003 |
0.9930 |
0.04% |
|
Jun 12, 2012 |
0.9946 |
0.9876 |
0.9970 |
0.9867 |
0.71% |
|
Jun 11, 2012 |
0.9876 |
0.9984 |
0.9995 |
0.9851 |
-1.08% |
This week it looked more and more clear that the US Fed was going to have to offer additional monetary stimulus. With the FOMC meeting this week on the 19th, the USD lost momentum.
The beginning of the week will be all about news flow and the Greek elections. Things are too close to call at the moment, but it seems that no party will have a clear majority so the leading party will have to be able to form a government.
The G20 ministers worked together this week to form a comprehensive plan with their central banks to make sure that liquidity was provided to the markets regardless of the outcome.
FxEmpire provides in-depth analysis for each currency and commodity we review. Fundamental analysis is provided in three components. We provide a detailed monthly analysis 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 June 11 – 15 actual v. forecast for Yen, the Aussie, the Kiwi and USD
|
Date |
Currency |
Event |
Actual |
Forecast |
Previous |
|
Jun 13 |
USD |
Core Retail Sales m/m |
-0.4% |
0.1% |
-0.3% |
|
USD |
PPI m/m |
-1.0% |
-0.6% |
-0.2% |
|
|
USD |
Retail Sales m/m |
-0.2% |
-0.1% |
-0.2% |
|
|
NZD |
Official Cash Rate |
2.50% |
2.50% |
2.50% |
|
|
Jun 14 |
USD |
Core CPI m/m |
0.2% |
0.2% |
0.2% |
|
USD |
Unemployment Claims |
386K |
377K |
380K |
|
|
JPY |
Overnight Call Rate |
|
|
|
|
|
Jun 15 |
USD |
Prelim UoM Consumer Sentiment |
74.1 |
77.5 |
79.3 |
Historical:
Highest: 1.1080USDon Jul 27, 2011
Average: 0.9126 USD over this period
Lowest: 0.6007USD Oct 27, 2008
Economic Highlights of the coming week that affect the AUD, JPY, NZD and USD
|
Date |
Time |
Currency |
Event |
Previous |
|
Jun 18 |
Day 1 |
ALL |
G20 Meetings |
|
|
Jun 19 |
1:30 |
AUD |
Monetary Policy Meeting Minutes |
|
|
12:30 |
USD |
Building Permits |
0.72M |
|
|
Day 2 |
ALL |
G20 Meetings |
||
|
22:45 |
NZD |
Current Account |
-2.76B |
|
|
Jun 20 |
16:30 |
USD |
FOMC Statement |
|
|
18:00 |
USD |
FOMC Economic Projections |
||
|
18:15 |
USD |
FOMC Press Conference |
||
|
22:45 |
NZD |
GDP q/q |
0.3% |
|
|
Jun 21 |
12:30 |
USD |
Unemployment Claims |
386K |
|
14:00 |
USD |
Existing Home Sales |
4.62M |
|
|
14:00 |
USD |
Philly Fed Manufacturing Index |
-5.8 |
Click here a current AUD/USD Chart.
Originally posted here
