AUD/USD Fundamental Analysis November 8, 2012, Forecast

AUD/USD Fundamental Analysis November 8, 2012, Forecast
AUD/USD Fundamental Analysis November 8, 2012, Forecast

Analysis and Recommendation:

The AUD/USD is trading at 1.0453. The analysis today will be the same for all Asian currencies. The US dollar weakened this morning after Mr. Obama was declared the winner of the US election. Markets simply are returning to their previous points and of course there are the knee jerk reactions, but America remains in the same hands and the same policies as before. There is no eco data today so markets are expected to move their focus back to the ECB and the EU, where Greece is going to be the main mover and shaker. Although for the NZD and the AUD, the focus will also shift to tomorrow mornings Chinese data dump, which is expected to show a stronger recovery in China, which will support the Pacific currencies and economies

The AUD remains strong after positive eco data in Oz on Monday, which showed a narrowing trade balance and the RBA holding rates, which should continue to support the Aussie as we wait for tomorrow’s employment numbers. Yesterday, Glenn Stevens, Governor of the RBA surprised traders by holding rates at 3.25 when markets had expected another decrease to 3.0. Mr. Stevens is always unpredictable.

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 November 7, 2012 actual v. forecast

Date

 

Currency

 

 

Event

Actual

 

Nov. 06

 

USD

 

 

US Presidential Election 

 Obama Wins

 

There were no other releases this morning in Asia

 

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

Date

Time

Currency

Event

Forecast

Previous

Nov. 08

00:30

AUD

Employment Change 

 

14.5K

Nov. 09

01:30

CNY

Chinese CPI (YoY) 

1.9%

1.9%

 

01:30

CNY

Chinese PPI (YoY) 

-2.7%

-3.6%

 

01:30

CNY

Chinese CPI (MoM) 

0.1%

0.3%

 

05:30

CNY

Chinese Fixed Asset Investment (YoY) 

20.6%

20.5%

 

05:30

CNY

Chinese Industrial Production (YoY) 

9.4%

9.2%

 

05:30

CNY

Chinese Retail Sales (YoY) 

14.1%

14.2%

Government Bond Auction

Date Time Country 

Nov 08 9:30 Spain 

Nov 08 10:10 Sweden 

Nov 08 16:30 Italy  

Nov 08 18:00 US 

Nov 09 11:00 Belgium 

Nov 09 16:30 Italy

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