Analysis and Recommendation: (close of Asian session)

AUD/USD  is ending the week fairly even as it closes at 1.0529 after opening at 1.0525.

Earlier in the session the Aussie traded higher as investors moved from the USD to more risk investments.

The Australian dollar had been weighed down recently by the strength of the greenback as well as concerns China's economy may be slowing. It has been posting lower lows and lower highs all week.

The currency rebounded overnight as the Dow Jones finished higher for the seventh consecutive trading day, while the S&P 500 finished at its highest level since mid-2008, indicating investors were returning to higher-risk assets. But finished even. The Aussie dollar normally does well in that environment should show some strength, but Mondays speech by Governor Stevens holds the key

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Released Economic Reports for March 15, 2012 actual v. forecast

 

Currency

 

 

 

Event

Actual

 

Forecast

 

Previous

 

 

 

CHF

 
 
 

Interest Rate Decision 

0.00%

 

0.00% 

 

0.00% 

 
 

 

EUR

 
 
 

ECB Monthly Report 

 

 
 
 
 
 
 

 

EUR

 
 
 

Employment Change (QoQ) 

-0.2%

 

-0.2% 

 

-0.2% 

 
 

 

USD

 
 
 

Core PPI (MoM) 

0.2%

 

0.2% 

 

0.4% 

 
 

 

USD

 
 
 

PPI (MoM) 

0.4%

 

0.5% 

 

0.1% 

 
 

 

USD

 
 
 

Initial Jobless Claims 

351K

 

356K 

 

365K 

 
 

 

USD

 
 
 

NY Empire State Manufacturing Index 

20.2

 

17.4 

 

19.5 

 
 

 

USD

 
 
 

Continuing Jobless Claims 

3343K

 

3405K 

 

3424K 

 
 

 

USD

 
 
 

TIC Net Long-Term Transactions 

101.0B

 

29.3B 

 

19.1B 

 
 

 

USD

 
 
 

Philadelphia Fed Manufacturing Index 

12.5

 

11.4 

 

10.2 

 
 

Economic Events for March 19, 2012

02:00                    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.   

Government Bond Auctions (this week)                                                                               Mar 19  n/a   Greece  CDS Auction

Mar 19  10:10  Slovakia  Bond auction

Mar 19  10:10  Norway  T-bill auction

Mar 20  09:30  Spain  12 & 18M T-bill auction

Mar 21  10:10  Sweden  Nominal bond auction

Mar 21  10:30  Germany  Eur 5.0bn Mar 2014 Schatz

Mar 21  10:30  Portugal  Eur 0.75-1.0bn 4 & 6M T-bills

Mar 22  10:10  Sweden  I/L bond auction

Mar 22  10.30  UK  Auctions 0.625% 2042 I/L Gilt

Mar 22  15:00  US

Announces auctions of 2Y Notes on Mar 27, 5Y Notes on Mar

28 & 7Y Notes on Mar 29

Mar 22  17:00  US  Auctions 10Y TIPS

Mar 23  10:10  Sweden  I/L bond exchange auction

Mar 23  16:30  Italy   Details CTZ/BTPei on Mar 27 & BOT on Mar 28

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

 

Name S3 S2 S1 Pivot R1 R2 R3

Classic
1.0444
1.0476
1.0533
1.0565
1.0622
1.0654
1.0711

Fibonacci
1.0476
1.0510
1.0531
1.0565
1.0599
1.0620
1.0654

Camarilla
1.0565
1.0573
1.0581
1.0565
1.0597
1.0605
1.0613

Woodie's
-
1.0482
1.0545
1.0571
1.0634
1.0660
-

DeMark's
-
-
1.0638
1.0574
1.0549
-
-