Economic Events: (GMT)

Close of Asian Markets

00:00     AUD       HIA New Home Sales (MoM)     6.8%

Housing Industry Association (HIA) New Home Sales measures the change in the number of newly constructed homes sold.

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

00:30     AUD       House Price Index (QoQ)     -0.60%                 -1.20%

 The Australian House Price Index (HPI) measures the change in the selling price of homes in the nation's eight state capitals. It is a leading indicator of health in the housing sector.

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

13:15     USD       ADP Nonfarm Employment Change     190K                      325K

The ADP National Employment Report is a measure of the monthly change in non-farm, private employment, based on the payroll data of approximately 400,000 U.S. business clients. The release, two days ahead of government data, is a good predictor of the government's non-farm payroll report. The change in this indicator can be very volatile.

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.                          

 15:00    USD       ISM Manufacturing Index     54.5                        53.9

The Institute of Supply Management (ISM) Manufacturing Purchasing Managers Index (PMI) rates the relative level of business conditions including employment, production, new orders, prices, supplier deliveries, and inventories.  The data is compiled from a survey of approximately 400 purchasing managers in the manufacturing industry.  On the index, a level above 50.0 indicates industry expansion, below indicates contraction.  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.                           

21:45     NZD      Employment Change (QoQ)     0.2%

Employment Change measures the change in the number of people employed. Job creation is an important indicator of consumer spending.

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

21:45     NZD       Unemployment Rate     6.6%

The Unemployment Rate measures the percentage of the total work force that is unemployed and actively seeking employment during the previous quarter.

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

AUD/USD

AUD/USD Fundamental Analysis Feb 1, 2012 Forecast

Analysis and Recommendation:

AUD/USD was trading at 1.0632 up from the opening of 1.0599.

The USD fell against  most major currencies this morning as Australian and New Zealand dollars attracted investors who by mid-session trading determined that the EU Summit had reached a successful conclusion, even without the resolution of Greece. The commitment of the 26 nations is strong and they are determined to work their way out of the debt crisis. US economic data has been weak in the past few days, not supporting Monday's surge in the USD.

Scheduled Sovereign Bond Sales

Feb 01  10:10  Sweden  Auctions T-bills

Feb 01  10:30  Germany  Eur 5.0bn 2.0% Jan 2022 Bund

Feb 01  10:30  Portugal  Eur 0.75-1.0bn 3M T-bill

Feb 01  10.30  UK  Auctions 5.0% 2025 conventional Gilt

Feb 01  15:30  Sweden  Details nominal bond auction on Feb 08

Feb 01  16:00  US

Announces details of 3Y Notes on Feb 07, 10Y Notes on Feb

08 & 30Y Bonds on Feb 09

Feb 02  09:50  France  OAT Auction

Feb 02  10.30  UK  Auctions 0.125% 2029

AUD/USD Pivot Points (Time Frame: 1 Day)
 

Name S3 S2 S1 Pivot R1 R2 R3

Classic
1.0434
1.0481
1.0553
1.0600
1.0672
1.0719
1.0791

Fibonacci
1.0481
1.0526
1.0554
1.0600
1.0645
1.0673
1.0719

Camarilla
1.0593
1.0604
1.0615
1.0600
1.0637
1.0648
1.0659

Woodie's
-
1.0487
1.0567
1.0606
1.0686
1.0725
-

DeMark's
-
-
1.0696
1.0611
1.0576
-
-