AUD/USD Forecast Jan. 16, 2012, Fundamental Analysis

AUD/USD Forecast Jan. 16, 2012, Fundamental Analysis
AUD/USD Forecast Jan. 16, 2012, Fundamental Analysis
The AUD/USD pair soared last week after the US dollar dropped against other majors, nevertheless, the losses returned for the pair with the sentiment reversal on Friday as news reports said that S&P downgraded France according to government sources.

The current week has important data from the Australian economy, where the unemployment rate is expected to hold steady at 5.3% and any change in the employment sector will be faced by a strong reacted from the Aussie, as it could affect the next decision from the RBA.

Also the Chinese economy will release its GDP data for the fourth quarter during the week, where the growth data will have its toll on the AUD/USD pair since China is number one trade partner for Australia.

On Monday at 00:30 GMT, Australian will issue the Home Loans for November, where the previous reading was 0.7% and it’s expected to come at 1.0%.

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