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AUD/USD Daily Forecast - 23 January

Thursday, Jan 22 2015

From Australia, yesterday, MI Inflation Expectations figures were released. The expected inflation rate reported in the Melbourne Institute Survey of Consumer Inflationary Expectations, fell by 0.2 percentage points to 3.2% in January 2015 from 3.4% in December 2014. This was mostly in line with market expectations. In January, the proportion of respondents (excluding the ‘don’t knows’) expecting the inflation rate to fall within the 0-5 per cent range decreased by 6 percentage points to 71.6% in January from 77.6% in December.

In the US session Unemployment Claims data way released. In the week ending January 17, the advance figure for seasonally adjusted initial claims was 307,000, a decrease of 10,000 from the previous week's revised level. Analysts were anticipating decrease to 301,000. The previous week's level was revised up by 1,000 from 316,000 to 317,000. The 4-week moving average was 306,500, an increase of 6,500 from the previous week's revised average.

 

There will be no data releases from Australia tomorrow, however, from China Manufacturing PMI data will be released. Analysts are anticipating no change this month. In the US session Existing Home Sales figures are scheduled for a release. Figure of around 5.08 million is forecasted.

 

Figures to watch:

 

HSBC Flash Manufacturing PMI (Friday 2:45)

Existing Home Sales (Friday 16:00)

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