AUD/USD Fundamental Analysis April 9, 2012 Forecast

Analysis and Recommendation: (close of Asian session)

AUD/USD  was trading at 1.0312, up 0.11% at the close of the light volume Asian session.

The pair was likely to find support at 1.0244, Wednesday’s low, and resistance at 1.0466.

Meanwhile, the Australian Dollar was up against the Euro and the Japanese Yen, with EUR/AUD shedding 0.09% to hit 1.2674 and AUD/JPY rising 0.06% to hit 84.84.

A rally on Chinese equity markets has helped the Australian dollar to recover from a three month low.

Thursday, the Australian dollar was trading at 103.05 US cents, up from 102.82 cents on Wednesday.

The Aussie was at 84.74 Japanese yen, down from Wednesday’s close of 85.04 yen 78.36 euro cents, up from 77.88 euro cents.

The currency had received some support from Chinese stock markets, which reopened after three days of public holidays.

Tepid demand at a Spanish government bond auction spooked investors who had been upbeat about global growth prospects and sparked a sell-off in higher-yielding, or riskier, assets.

Reflecting the negative risk sentiment, the safe-haven US dollar and Japanese Yen strengthened against all of the major currencies pushing the kiwi dollar down.

Against the Japanese yen, the euro   fell 0.7% to ¥107.62. The dollar also slipped, buying ¥82.42, down from ¥82.57

Most Western Markets are Closed on Friday April 6, 2012 and many are Closed on Monday April 9, 2012.

Economic Events April 5, 2012 actual v. forecast

 

CHF

 

 

 

CPI (MoM) 

0.6%

 

0.4% 

 

0.3% 

 

 

 

EUR

 

 

 

Dutch CPI (YoY) 

2.50%

 

2.20% 

 

2.50% 

 

 

 

GBP

 

 

 

Industrial Production (MoM) 

0.4%

 

0.3% 

 

-0.6% 

   

 

GBP

 

 

 

Manufacturing Production

-1.0%

 

0.1% 

 

-0.3% 

   

 

GBP

 

 

 

Interest Rate Decision 

0.50%

 

0.50% 

 

0.50% 

 

 

 

GBP

 

 

 

BOE QE Total 

325B

 

325B 

 

325B 

 

 

 

BRL

 

 

 

Brazilian CPI (YoY) 

5.2%

 

5.4% 

 

5.8% 

 

 

 

CAD

 

 

 

Building Permits (MoM) 

7.5%

 

3.0% 

 

-11.4% 

   

 

CAD

 

 

 

Employment Change 

82.3K

 

10.0K 

 

-2.8K 

 

 

 

USD

 

 

 

Initial Jobless Claims 

357K

 

355K 

 

363K 

   

 

CAD

 

 

 

Unemployment Rate 

7.2%

 

8.0% 

 

7.4% 

 

 

 

USD

 

 

 

Continuing Jobless Claims 

3338K

 

3350K 

 

3354K 

   

 

CAD

 

 

 

Ivey PMI 

63.5

 

66.0 

 

66.5 

 

 

 

GBP

 

 

 

NIESR GDP Estimate 

0.1%

 

 

 

0.1% 

   

 

Economic Events scheduled for April 9, 2012

02:30     CNY      Chinese CPI (YoY)           3.3%                      3.2%

The Consumer Price Index (CPI) measures the change in the price of goods and services from the perspective of the consumer. It is a key way to measure changes in purchasing trends and inflation.                            

02:30     CNY      Chinese PPI (YoY)                                           -0.2%      

The Producer Price Index (PPI) measures the change in the price of goods sold by manufacturers. It is a leading indicator of consumer price inflation, which accounts for the majority of overall inflation.                                    

 10:00    EUR       Greek CPI (YoY)                                              2.10%

Consumer Price index is the most frequently used indicator of inflation and reflect changes in the cost of acquiring a fixed basket of goods and services by the average consumer. 

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