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AUD/USD Analysis Forecast – June 11, 2015 – Forecast

audusd wednesday bnsnlaAnalysis and Recommendation:

The AUD/USD tumbled 46 points to trade at 0.7644 after Westpac consumer sentiment tumbled and a speech from Glenn Stevens from the RBA. The Reserve Bank of Australia (RBA) will likely also be disappointed that its latest rate cut to 2 percent did not have a longer-lasting impact on the consumer mood.

A measure of Australian consumer sentiment dived in June to entirely reverse the previous month’s promising increase, a blow to hopes for a much-needed upturn in household spending. The survey of 1,200 people by the Melbourne Institute and Westpac Bank showed its index of consumer sentiment slid a seasonally adjusted 6.9 percent in June.

The index reading of 95.3 was 2.3 percent higher than in June 2014, but the weakest since the start of this year. The drop wiped out May’s 6.4 percent increase which had followed a cut in interest rates to record lows and a government budget that included a surprise tax break for small businesses.

ForexTraq provides in-depth analysis for each currency and commodity we review. Fundamental analysis is provided in three components. We provide a detailed monthly analysis and forecast at the beginning of each month. Then we provide more up to the data analysis and information for AUD/USD in our weekly reports.

Today’s economic releases actual vs. forecast:

Cur.

 

Event

Actual

Forecast

Previous

 

  USD

 

API Weekly Crude Stock

-6.700M

-1.600M

1.800M

 

 

  AUD

 

Westpac Consumer Sentiment

-6.9%

 

6.4%

 

 

  AUD

 

RBA Governor Stevens Speaks 

 

 

 

   

 AUDUSD(60 minutes)20150610055133

Upcoming Economic Events that you should be monitoring:

Thursday, June 11, 2015

Cur.

 

Event

Actual

Forecast

Previous

 

  GBP

 

BoE Gov Carney Speaks  

 

 

 

 

 

  NZD

 

Interest Rate Decision

 

3.50%

3.50%

 

 

  NZD

 

RBNZ Gov Wheeler Speaks  

 

 

 

 

 

  AUD

 

Employment Change (May)

 

11.0K

-2.9K

 

 

  CNY

 

Industrial Production (YoY)

 

6.0%

5.9%

 

 

  USD

 

Core Retail Sales (MoM) (May)

 

0.7%

0.1%

 

 

  USD

 

Retail Sales (MoM) (May)

 

1.1%

0.0%

 

 

  CAD

 

BoC Gov Poloz Speaks  

 

 

     

Government Bond Auctions

Date Time Country

Jun 11 10:30 Spain Auctions Bonos

Jun 11 11:10 Italy Auctions BTPs/CCTeus

Jun 11 11:10 Sweden Sek 0.5bn 0.125% Jun 2019 & Sek 0.5bn 0.25% Kim 2022

Jun 11 11:30 Ireland Eur 750mn 2.4% May 2030 IGBs

Jun 11 11:30 UK Gbp 2bn 3.5% Jan 2045 Conventional Gilt

Jun 11 17:00 US Announces details of 30-year TIPs sale on 18 Jun

Jun 11 19:00 US USD 13bn 30 year bonds

Jun 15 00:00 UK New 30 year I/L syndicated Gilt auction

Jun 17 11:03 Sweden Holds bond auction

Jun 17 11:30 Germany Eur 3bn Feb 2025 Bund

Jun 18 10:30 Spain Auctions Bonos/Obligations

Jun 18 11:10 France Auctions BTANs

Jun 18 12:10 France Auctions OATi

Jun 18 17:00 US Details 2-year FRNs

Jun 18 17:00 US Announces details of 2/5/7 year notes

Jun 18 18:00 US Auctions 30-year TIPs sale on 24 Jun

 

AUD/USD analysis forecast

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