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 closed the week down at 0.9844 as the AUD lost over 1% of its value. Risk Aversion was the mood all week, with no signs of letting up. There was little in the way of supportive eco data although Australia did see a rise in consumer sentiment as well as a high wage price index. The extended worries from China, was a negative for the currency but overall it was the eurozone weighing down the markets. The USD and JPY continued to be the benefactors of risk moves. Although towards the end of the week there was a small shift to more risky assets which benefitted the commodity currencies.
Major Economic Events for the week of May 14-18 actual v. forecast for Yen, the Aussie and the Kiwi
|
NZD |
Retail Sales (QoQ) |
-1.5% |
-0.5% |
1.8% |
|
NZD |
Core Retail Sales (QoQ) |
-2.5% |
0.3% |
2.3% |
|
AUD |
Home Loans (MoM) |
0.3% |
-2.0% |
-2.5% |
|
JPY |
Tertiary Industry Activity Index (MoM) |
-0.6% |
-0.3% |
0.0% |
|
AUD |
Westpac Consumer Sentiment |
0.80% |
-1.60% |
|
|
AUD |
Wage Price Index (QoQ) |
0.9% |
0.8% |
1.0% |
|
NZD |
PPI Input (QoQ) |
0.3% |
0.0% |
0.5% |
|
JPY |
GDP (QoQ) |
1.0% |
0.9% |
-0.2% |
|
JPY |
GDP Price Index (YoY) |
-1.2% |
-1.4% |
-1.8% |
|
JPY |
Industrial Production (MoM) |
1.3% |
1.1% |
1.0% |
Economic Highlights of the coming week that affect the AUD,JPY,NZD and USD
|
May 22 |
3:00 |
NZD |
Inflation Expectations q/q |
2.5% |
|
14:00 |
USD |
Existing Home Sales |
4.48M |
|
|
23:50 |
JPY |
Trade Balance |
-0.62T |
|
|
May 23 |
0:00 |
AUD |
CB Leading Index m/m |
0.0% |
|
0:30 |
AUD |
MI Leading Index m/m |
0.2% |
|
|
TBD |
JPY |
Monetary Policy Statement |
||
|
TBD |
JPY |
Overnight Call Rate |
|
|
|
TBD |
JPY |
BOJ Press Conference |
||
|
14:00 |
USD |
New Home Sales |
328K |
|
|
14:30 |
USD |
Crude Oil Inventories |
||
|
22:45 |
NZD |
Trade Balance |
134M |
|
|
May 24 |
2:00 |
NZD |
Annual Budget Release |
|
|
5:00 |
JPY |
BOJ Monthly Report |
||
|
12:30 |
USD |
Core Durable Goods Orders m/m |
-0.8% |
|
|
12:30 |
USD |
Unemployment Claims |
||
|
12:30 |
USD |
Durable Goods Orders m/m |
-4.0% |
|
|
23:30 |
JPY |
Tokyo Core CPI y/y |
-0.5% |
|
|
May 25 |
TBD |
ALL |
G8 Meetings |
|
|
13:55 |
USD |
Revised UoM Consumer Sentiment |
Upcoming Government Bond Auctions
Date Time Country
May 21 09:10 Norway
May 21 09:30 Germany
May 21 10:00 Belgium
May 22 08:30 Holland
May 22 08:30 Spain
May 22 17:00 US
May 23 09:10 Sweden
May 23 09:30 Germany
May 23 14:30 Sweden
May 23 17:00 US
May 24 15:30 Italy
May 24 17:00 US
May 25 15:30 Italy
Click here for updated AUD/USD News.
Originally posted here
