AUD/USD Fundamental Analysis February 10, 2012 Forecast

February 9, 2012 8:19 AM GMT

FXEmpire

Economic Events: (GMT)

00:30     AUD       RBA Monetary Policy Statement

The Reserve Bank of Australia's (RBA) quarterly monetary policy statement provides valuable insight into the bank's perspective on economic conditions and inflation                                                                                             

 13:30    USD       Trade Balance                                                   -48.4B                   -47.8B

The Trade Balance measures the difference in value between imported and exported goods and services over the reported period. A positive number indicates that more goods and services were exported than imported.

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

 14:55    USD       Michigan Consumer Sentiment Index     74.3                       75.0

The University of Michigan Consumer Sentiment Index rates the relative level of current and future economic conditions. There are two versions of this data released two weeks apart, preliminary and revised. The preliminary data tends to have a greater impact. The reading is compiled from a survey of around 500 consumers.

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

 17:30    USD       Fed Chairman Bernanke Speaks

Federal Reserve Chairman Ben Bernanke (February 2006 - January 2014) is to speak. As head of the Fed, which controls short term interest rates, he has more influence over the U.S. dollar's value than any other person. Traders closely watch his speeches as they are often used to drop hints regarding future monetary policy.

His comments may determine a short-term positive or negative trend.                                                                                                

19:00     USD       Federal Budget Balance                                                -65.2B                   -86.0B  

The Federal Budget Balance measures the difference in value between the federal government's income and expenditure during the reported month. A positive number indicates a budget surplus, a negative number indicates a deficit. 

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EUR/USD Weekly Outlook

EUR/USD's decline extended further as expected as reached as low as 1.2496. The break of 1.2625 confirmed resumption of whole fall from 1.4939. Initial bias remains on the downside this week.

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