AUD/USD Fundamental Analysis February 24, 2012 Forecast

Economic Events:  (GMT)

It is a quiet day for economic data throughout the world.

Feb 23GMT

22:30                    AUD                                                      RBA Governor Stevens Speaks

Reserve Bank of Australia (RBA) Governor Glenn Stevens (September 2006 – September 2013) is to speak. As the head of the RBA, which sets short term interest rates, he has a major influence over the value of the Australian dollar. Traders watch his speeches closely as they are often used to drop subtle hints regarding future monetary policy and interest rate shifts. After surprising the markets last week and holding rates, today’s comments might have some effects on the Aussie

Analysis and Recommendation: ( close of Asian session )

AUD/USD was trading at 1.0643 opening at 1.0647. The Australian dollar was lower at noon as equity markets softened and uncertainty surrounded the leadership of the Australian Labor Party.

By noon  the Australian dollar was trading at 106.06 US cents, down from 106.71 cents on Wednesday.

Nomura head of foreign exchange Kurt Magnus said the Australian dollar was moving on these two trends, but would not stay down for long. And declined in afternoon trading to end at 1.0643

Wednesday February 22, 2012 Economic Reports     actual v. forecast

 

 AUD

 

 

 

Wage Price Index (QoQ)

1.0%

 

0.8%

 

0.7%

 

 

 

NZD

 

 

 

Credit Card Spending (YoY)

3.1%

     

5.9%

 

 

 

EUR

 

 

 

French CPI (MoM)

-0.4%

 

0.3%

 

0.4%

 

 

 

EUR

 

 

 

French Manufacturing PMI 

50.2

 

48.7

 

48.5

 

 

 

EUR

 

 

 

French Services PMI 

50.3

 

51.9

 

52.3

 

 

 

EUR

 

 

 

German Manufacturing PMI 

50.1

 

51.5

 

51.0

 

 

 

EUR

 

 

 

German Services PMI 

52.6

 

53.8

 

53.7

 

 

 

TWD

 

 

 

Taiwanese GDP (YoY)

1.9%

 

1.9%

 

1.9%

 

 

 

EUR

 

 

 

Italian CPI (MoM)

0.3%

 

0.3%

 

0.3%

 

 

 

EUR

 

 

 

Manufacturing PMI 

49.0

 

49.4

 

48.8

 

 

 

EUR

 

 

 

Services PMI 

49.4

 

50.7

 

50.4

 

 

 

GBP

 

 

 

MPC Meeting Minutes

         

 

 

 

EUR

 

 

 

Industrial New Orders (MoM)

1.9%

 

0.6%

 

-1.1%

   

 

EUR

 

 

 

German 2-Year Schatz Auction

0.250%

       

 

 

 

USD

 

 

 

MBA Mortgage Applications

-4.5%

     

-1.0%

 

 

 

EUR

 

 

 

Spanish Trade Balance

-4.50B

 

-3.10B

 

-2.70B

 

 

 

EUR

 

 

 

Belgium NBB Business Climate

-7.7

 

-8.5

 

-9.5

 

 

 

MXN

 

 

 

Mexican Retail Sales (YoY)

3.5%

 

6.5%

 

7.5%

 

 

 

USD

 

 

 

Existing Home Sales

4.57M

 

4.67M

 

4.38M

   

 

Sovereign Bond Auction Schedule

Feb 24  10:10  Italy   Auctions CTZ/BTP

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