AUD/USD Forecast Jan. 20, 2012, Fundamental Analysis

AUD/USD Forecast Jan. 20, 2012, Fundamental Analysis
AUD/USD Forecast Jan. 20, 2012, Fundamental Analysis
The AUD/USD pair retreated for the first time in three days, after the Australian employer unexpectedly cut jobs in December, which dragged the down despite the current dollar weakness.

The Australian dollar was not able to benefit from the current rally in the Asian stocks in addition to the market sentiment which supported the risk appetite due to the latest signs of recovery from the U.S. economy.

Australian employers have cut jobs during December by 29.3 thousand, which ended the three days rally for the Aussie against the dollar, while the US dollar continued its weakness against other majors as risk appetite continued in the global market supported by the rally in stocks.

On Friday at 00:30 GMT, the Australian economy will release the Import Price Index for the fourth quarter, where its expected to come at 0.6% higher than the prior reading of 0.0%.

The Export Price Index for fourth quarter is expected at the same time, with a previous reading of 4.0% and it’s expected to come at –2.0%.

The U.S. economy will issue the Existing Home Sales for December, where it’s expected with 3.7% rise to 4.65 million from 4.42 million.

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