wrapper

AUD/USD Daily Forecast - 07 January

Tuesday, Jan 06 2015

From Australia, yesterday, Trade Balance data was released. While analysts were predicting incline to $1.59 billion deficit, Australian Trade Balance figures showed a deficit of $925m in November 2014, an increase of $48m (5%) on the deficit in October 2014. In seasonally adjusted terms, goods and services credits rose $160m (1%) to $27,085m. Imports rose $208m (1%) to $28,010m.

In the US session Non-Manufacturing PMI figures were released. US Non-Manufacturing PMI registered 56.2 percent in December, 3.1 percentage points lower than the November reading of 59.3 percent. Analysts were predicting smaller decrease to 58.2. This represents continued growth in the non-manufacturing sector. According to the NMI, 12 non-manufacturing industries reported growth in December. Comments from respondents are mostly positive about business conditions and the overall economy for year-end.

 

With no data releases from Australia tomorrow, we believe that Aussie will spent morning part of the session being traded in a tighter range. In the US session ADP job figures, and Trade Balance data are scheduled for a release. ADP job figures should show increase of 227,000, while Trade Balance deficit is predicted to decline to $42.3 billion. However, the focus of the session will be on FOMC Meeting Minutes, which should bring a lot of volatility to the markets., and with traders looking for hints on future monetary policy.

 

Figures to watch:

 

ADP Non-Farm Employment Change (Wednesday 14:15)

Trade Balance (Wednesday 14:30)

FOMC Meeting Minute (Wednesday 20:00)

More in this category: « EUR/USD Daily Forecast - 06 January GBP/USD Daily Forecast - 07 January »

Latest from Editor

About Us

Forex Web News is part of Rolling Capital Network providing financial consulting.

Within the Forex Web News we provide our readers with expert and timely technical analyses, fundamental analyses and news; with one aim – for our readers to make best possible financial decisions.

Forex Web News desks and analysis department follow the international markets closely and create high quality proprietary content on a both daily and weekly basis.

.

All our analysts have several years of trading and analysis experience. The Forex Web News analysis team creates daily and weekly analyses and offer forecasts regarding where they believe the markets are heading. Our readers are provided with data displayed both in texts and on graphs, providing them the fullest understanding of what is happening in the market place.

We are constantly growing our news desks and our analysis departments as we strive to broaden the content we provide to visitors of the Forex Web News.

Disclaimer

Rolling-capital.com – The company, employees, subsidiaries and associates, are not liable nor shall they be held liable jointly or severally for any loss or damage as a result of reliance on the information provided on this website. The data contained in this website is not necessarily provided in real-time nor is it necessarily accurate. All prices herein are provided by market makers and not by exchanges. As such prices may not be accurate and they may differ from the actual market price. rolling-capital.com bears no responsibility for any trading losses you might incur as a result of using any data within the Forex Web News.