JPY Daily News

AUD Gets a Lift

The AUD got a lift this past week as a pickup in market sentiment has helped the high yielding currency. Moody's also reaffirmed Australia's AAA credit rating, noting the government's fiscal policy, financial strength, and low levels of debt. The top credit rating should not be overlooked these days as S&P is likely to downgrade some of Europe's largest nations in the month of January. France is the most likely candidate for a reduction.

While the AUD may receive a boost due to additional real money inflows from the country's AAA credit rating, the AUD will ultimately be driven by an improvement in the risk on trade. This will likely come from a solution to the European debt crisis which appears none too close. The AUD/USD has resistance at the November 30th high of 1.0330, while support is found at the mid-December low of 0.9860.

Current Time: 05/27 00:07 GMT

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#	Time	$€£¥	Event	Per.	Prev.	Fore.	Act.	Imp.
12/27
	05:00	JPY	Housing Starts	y/y	-5.8%	-4.8%	-0.3%
	23:30	JPY	Household Spending		-0.4%	-1.1%	-3.2%
	23:30	JPY	Tokyo Core CPI	y/y	-0.5%	-0.4%	-0.3%
	23:30	JPY	National Core CPI	y/y	-0.1%	-0.2%	-0.2%
	23:30	JPY	Unemployment Rate		4.5%	4.5%	4.5%