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Economic Events: (GMT)
13:30 USD Initial Jobless Claims 354K 348K
13:30 USD Continuing Jobless Claims 3460K 3426K
Initial Jobless Claims and Continuing Jobless Claims measure the number of unemployed individuals who qualify for benefits under unemployment insurance.
A higher than expected reading should be taken as negative/bearish for the USD, while a lower than expected reading should be taken as positive/bullish for the USD.
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22:30 AUD RBA Governor Stevens Speaks
Reserve Bank of Australia (RBA) Governor Glenn Stevens (September 2006 - September 2013) is to speak. As the head of the RBA, which sets short term interest rates, he has a major influence over the value of the Australian dollar. Traders watch his speeches closely as they are often used to drop subtle hints regarding future monetary policy and interest rate shifts. After surprising the markets last week and holding rates, today's comments might have some effects on the Aussie
AUD/USD Fundamental Analysis February 23, 2012 Forecast
Analysis and Recommendation: (close of Asian session)
AUD/USD was trading at 1.0668, The Australian dollar was lower today, failing to gain ground despite the approval of a Greek bailout package.
On Tuesday, euro zone ministers approved the delivery of a second aid package to help prevent Greece from defaulting on its debts.
Markets have had a lukewarm reaction to the much-awaited decision because economists only give the deal a small chance of sufficiently helping the Greek economy and alleviating its financial crisis.
Data released today for the Wage Price Index which measures the change in the price businesses and the government pays for labor, excluding bonuses. It is a leading indicator of consumer price inflation. The report showed an unexpected increase which was positive for Aussie; markets were expecting an increase of 0.8% while the report showed an increase to 1.0%.
