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.

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. 

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.           

AUD/USD
AUD/USD Fundamental Analysis February 10, 2012 Forecast

AUD/USD Fundamental Analysis February 10, 2012 Forecast

Analysis and Recommendation: ( close of Asian session )

AUD/USD was trading at 1.0787 down from yesterday's close of 1.0799. The AUD fell like a rock in mid day trading only to later recover falling all the way to 1.0741. A double whamy seemed to hit at one time, New Zealand unemployment, China's increased inflation rate and news of no agreement, or news of disagreement in Greece. The pair soon recovered and should stay in this range. The greenback seems to continue to firm and the pair are moving back into a tight range.

Wednesday's economic reports ( actual )

GBP

BRC Shop Price Index (YoY) 

1.40%

 
 
 

1.70% 

 
 

JPY

Economy Watchers Current Index 

44.1

 

47.5 

 

47.0 

 
 

CHF

Unemployment Rate 

3.1%

 

3.1% 

 

3.1% 

 
 

EUR

German Trade Balance 

13.9B

 

14.1B 

 

14.9B 

 
 

EUR

French Government Budget Balance 

-90.8B

 

-90.8B 

 

-97.2B 

 
 

Scheduled Sovereign Bond Sales

Feb 10  11:00  Belgium  OLO auction

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

Name S3 S2 S1 Pivot R1 R2 R3

Classic
1.0641
1.0691
1.0746
1.0796
1.0851
1.0901
1.0956

Fibonacci
1.0691
1.0731
1.0756
1.0796
1.0836
1.0861
1.0901

Camarilla
1.0773
1.0783
1.0792
1.0796
1.0812
1.0821
1.0831

Woodie's
-
1.0692
1.0750
1.0797
1.0855
1.0902
-

DeMark's
-
-
1.0823
1.0782
1.0718
-
-