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AUD/USD Daily Forecast - 14 January

Tuesday, Jan 13 2015

There were no data releases from Australia yesterday, however, from China Trade Balance figures were released. China's exports rose 9.7% in December from a year earlier, beating expectations on 6% incline. Imports fell 2.4%, better than forecasted  6.2% decline. This resulted in a trade surplus of $49.61 billion in line with market predictions.The better-than-expected performance of imports showed China’s domestic demand isn’t that weak - in fact, it’s quite stable if the distortion from the oil price fall is excluded.

US session brought JOLTS Job Openings figures. There were 5.0 million job openings on the last business day of November. This was above expected figure of 4.86 million. The job openings rate was 3.4%. The number of job openings was little changed for total private and increased for government in November. Job openings increased for nondurable goods manufacturing and for state and local government. The number of job openings was little changed in all four regions.

 

There will be no data releases from Australia tomorrow, so we would be more focused on oil and gold prices. Some support for Aussie could also come from a further decline in oil prices. In the US session Retail Sales data will be released. Analysts are predicting 0.2% increase in Retail Sales and 0.1% rise in Core Retail Sales.

 

Figures to watch:

 

Retail Sales (Wednesday 14:30)

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