AUD/USD Fundamental Analysis Jan. 24, 2012 Forecast

Economic Events: (GMT)

Close of Asian Markets

23:30 AUD MI Leading Index (MoM)

The Westpac/Melbourne Institute (MI) Leading Index is a composite index based on nine economic indicators, which is designed to predict the direction of the economy.The data is compiled from economic indicators related to consumer confidence, housing, stock market prices, money supply, and interest rate spreads. The report tends to have a muted impact because most of the indicators used in the calculation are released previously.

A higher than expected reading should be taken as positive/bullish for the AUD, while a lower than expected reading should be taken as negative/bearish for the AUD.

 Analysis and Recommendation:

AUD/USD was trading at 1.0486 the exact middle point between the open and high.

The Australian Dollar was lower against the U.S. Dollar on today, following the rise of the US dollar on Friday. There is little in the way of economic data due in the early part of the week to effect the AUD. While Gold is trading up 2% last week off a 10.00 rise on Friday. The pair is expected to stay in this range, waiting for an outcome on Greece and statements today from the EU and ECB after meetings this afternoon.

Upcoming Govt Bond Sales Dates

Jan 23  12:00  Norway  Details bond auction on Jan 30

Jan 24  09:30  Netherlands Eur 1.5-2.5bn Jan 2013 & Jan 2042 DSL

Jan 24  09:30  Spain  Auctions 3 & 6M T-bills

Jan 24  16:30  Italy   Details CTZ/BTPei on Jan 26 & BOT on Jan 27 &

Jan 24  18:00  US  Auctions 2Y Notes

Jan 25  10:10  Sweden  Nominal bond auction

Jan 25  10:30  Germany  Eur 3.0bn 3.25% Jul 2042 Bund

Jan 25  16:30  Italy   Details BTP/CCTeu on Jan 30

Jan 25  18:00  US  Auctions 5Y Notes

Jan 26  10:10  Italy   Auctions CTZ/BTPei

Jan 26  18:00  US  Auctions 7Y Notes

Jan 27  10:10  Italy   BOT auction

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