AUD/USD Forecast Jan. 12, 2012, Fundamental Analysis

AUD/USD Forecast Jan. 12, 2012, Fundamental Analysis
AUD/USD Forecast Jan. 12, 2012, Fundamental Analysis
The AUD/USD gained for the third day in the Asian session on Wednesday, as the US dollar was little changed against other majors, opening the way for the Australian dollar to record more gains.

On the other hand, risk appetite retreated slightly after it dominated the markets since the beginning of the week, which reduced demand for the Aussie that failed to continue its upside movement.

On Thursday, the U.S. economy will release the Advance Retail Sales for December at 13:30 GMT, where the expectations refer to 0.2% in line with the previous reading. The Retail Sales Less Autos is expected to rise to 0.3% from the prior 0.2%.

At 13:30 GMT, U.S. economy will issue its weekly initial claims numbers, where the number of people filing for first-time claims for the state unemployment insurance increased 372 thousand last week.

The U.S. Business Inventories for November will be released at 15:00 GMT, with a previous reading of 0.8% and the expectations refer to 0.4%. While the Monthly Budget Statement for December will be released at 19:00 GMT, and it’s expected to show a deficit of 79.0 billion.

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