Economic Events: (GMT)
Close of Asian Markets
23:30 AUD MI Leading Index (MoM)
The Westpac/Melbourne Institute (MI) Leading Index is a composite index based on nine economic indicators, which is designed to predict the direction of the economy.The data is compiled from economic indicators related to consumer confidence, housing, stock market prices, money supply, and interest rate spreads. The report tends to have a muted impact because most of the indicators used in the calculation are released previously.
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.
Analysis and Recommendation:
The Australian Dollar was lower against the U.S. Dollar on today, following the rise of the US dollar on Friday. There is little in the way of economic data due in the early part of the week to effect the AUD. While Gold is trading up 2% last week off a 10.00 rise on Friday. The pair is expected to stay in this range, waiting for an outcome on Greece and statements today from the EU and ECB after meetings this afternoon.
Upcoming Govt Bond Sales Dates
Jan 23 12:00 Norway Details bond auction on Jan 30
Jan 24 09:30 Netherlands Eur 1.5-2.5bn Jan 2013 & Jan 2042 DSL
Jan 24 09:30 Spain Auctions 3 & 6M T-bills
Jan 24 16:30 Italy Details CTZ/BTPei on Jan 26 & BOT on Jan 27 &
Jan 24 18:00 US Auctions 2Y Notes
Jan 25 10:10 Sweden Nominal bond auction
Jan 25 10:30 Germany Eur 3.0bn 3.25% Jul 2042 Bund
Jan 25 16:30 Italy Details BTP/CCTeu on Jan 30
Jan 25 18:00 US Auctions 5Y Notes
Jan 26 10:10 Italy Auctions CTZ/BTPei
Jan 26 18:00 US Auctions 7Y Notes
Jan 27 10:10 Italy BOT auction
AUD/USD Pivot Points (Time Frame: 1 Day)
Name S1 S2 S3 Pivot R1 R2 R3