AUD/USD Fundamental Analysis June 28, 2013 Forecast

audusd thursday bnsAnalysis and Recommendation:

The AUD/USD climbed to trade at 0.9322 as the US dollar eased slightly this morning, while the markets seemed to move passed the Chinese credit crunch. Investors took the US Commerce Department’s slashing of first-quarter economic growth projections as a sign that the Federal Reserve would keep pumping money into the economy through its bond-buying program.

US stocks were up about one per cent, with Australian analysts speculating that the recent spate of selloffs and worries might have subsided, with strong gains posted yesterday. Traders do not think Kevin Rudd’s mere return as Australian Prime Minister would affect markets on today, but his communication on policy might.

Yesterday, there was a political upset as Kevin Rudd challenged Julia Gillard as Prime Minister and won. Mr. Rudd was originally ousted by Gillard a few years ago. Rudd might push for changes in monetary policy or offer new economic programs.

FxEmpire provides in-depth analysis for each currency and commodity we review. Fundamental analysis is provided in three components. We provide a detailed monthly analysis and forecast at the beginning of each month. Then we provide more up to the data analysis and information in our weekly reports.

Economic Data June 27, 2013 actual v. forecast

Date

 

Currency

 

 

Event

Actual

 

Forecast

 

Previous

 

 

Jun. 27

 

NZD

 

 

Trade Balance 

71M

 

400M 

 

174M 

   

 

 

KRW

 

 

South Korea Current Account 

7.82B

 

 

 

4.76B 

   

 

 

JPY

 

 

Foreign Bonds Buying 

-1187.5B

 

 

 

-405.1B 

   

 

 

NZD

 

 

Business Confidence 

50.1

 

 

 

41.8 

 

 

 

 

JPY

 

 

All Indus Activity Index (MoM) 

 

 

0.5% 

 

-0.3% 

   

 audusd 0627bns

Upcoming Economic Events that affect the AUD, NZD, JPY and USD

Jun. 28 

00:30

JPY

Tokyo Core CPI (YoY) 

0.2%

0.1%

 

00:30

JPY

Tokyo CPI (YoY) 

 

-0.2%

 

00:50

JPY

Industrial Production (MoM) 

0.2%

0.9%

 

00:50

JPY

Retail Sales (YoY) 

 

-0.1%

 

00:50

JPY

Industrial Production forecast 1 (MoM) 

   

 

00:50

JPY

Industrial Production forecast 2 (MoM) 

 

-1.4%

 

14:45

USD

Chicago PMI 

56.0

58.7

 

14:55

USD

Michigan Consumer Sentiment 

83.0

82.7

Government Bond Auction

Date Time Country 

Jul 01 09:10 Norway

Jul 02 00:30 Japan

Jul 02 09:15 Austria

Jul 02 09:30 Belgium

Jul 02 09:30 UK

Jul 02 14:30 UK

Jul 03 15:00 US

Jul 04 00:00 Japan

Jul 04 08:30 Spain

Jul 04 08:50 France

Jul 04 11:00 Norway

Jul 05 15:30 Italy

 

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