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AUD/USD Daily Forecast - 31 December

Tuesday, Dec 30 2014

It was another session without major data releases from Australia. Aussie was, however, somewhat supported by fall in oil prices to a five-year low.On the other hand, gold prices also continue to fall. State of economy in China will also be of an impact, especially in the 2015, with demand for iron ore falling, what reflects itself negatively on Aussie. The Dow Newswire reports that China cut its target for the growth of external trade to 6% for 2015, compared with a 7.5% target this year.

In the US CB Consumer Confidence figures were released. The Conference Board Consumer Confidence Index, which had declined in November, improved in December. The Index now stands at 92.6 up from 91.0 in November. However, analysts were forecasting an incline to 94.6. The Present Situation Index rose to 98.6 from 93.7, while the Expectations Index decreased to 88.5 from 89.3 in November.

 

Tomorrow, from Australia, only minor importance Private Sector Credit data will be released. Analysts are predicting 0.5% increase. From China Manufacturing PMI figures are scheduled for a release. No change from last month's 49.5 is expected. US session will bring Unemployment Claims, Pending Home Sales and Chicago PMI data. Unemployment Claims are forecasted to increase to 287,000. Chicago PMI should fall to 60.2 points, while Pending Home Sales should raise by 0.6%.

 

Figures to watch:

 

HSBC Final Manufacturing PMI (Wednesday 2:45)

Unemployment Claims (Wednesday 14:30)

Chicago PMI (Wednesday 15:45)

Pending Home Sales (Wednesday 16:00)

More in this category: « EUR/USD Daily Forecast - 30 December GBP/USD Daily Forecast - 31 December »

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