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AUD/USD Daily Forecast - 20 December

Monday, Dec 19 2016
AUD/USD Daily Forecast - 20 December

From Australia, yesterday, only minor importance CB Leading Index figures were released. The Conference Board Leading Economic Index®(LEI) for Australia decreased 0.4 percent in October to 103.2 (2010=100). The Conference Board Coincident Economic Index®(CEI) for Australia increased 0.3 percent in October to 110.8 (2010=100). The composite economic indexes are the key elements in an analytic system designed to signal peaks and troughs in the business cycle.

In the US session services PMI data was published. Adjusted for seasonal influences, the Markit Flash U.S. Services PMI™ Business Activity Index posted 53.4 in December, down slightly from 54.6 in November but above the 50.0 no-change value for the tenth consecutive month. The average reading for the final quarter of 2016 (54.2) pointed to the steepest upturn in service sector output since Q4 2015.

 

Focus of tomorrow's session will be on RBA Meeting Minutes. There will be no major data releases in the US part of the session.

 

Figures to watch:

 

Monetary Policy Meeting Minutes (Tuesday 1:30)

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