AUD/USD Daily Forecast - 21 December

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Wednesday, Dec 21 2016

AUD/USD Daily Forecast - 21 December

Yesterday's session was marked by RBA Minutes. Minutes from the latest RBA Meeting showed that member believe that there was still considerable uncertainty about the momentum in the labour market. The unemployment rate had declined over the past year, as had measures of excess capacity that accounted for the number of additional desired hours of work. Part-time employment had grown strongly over the previous year, but employment growth overall had slowed.

Taking into account the information that had become available over the previous month, and having eased monetary policy earlier in the year, the Board judged that holding the stance of policy unchanged would be consistent with sustainable growth in the economy and achieving the inflation target over time.

There will be no major data releases from Australia tomorrow. In the US session Existing Home Sales figures will be published. Analysts predict rate of 5.52 million.

Figures to watch:

Existing Home Sales (Wednesday 16:00)

More in this category: « EUR/USD Daily Forecast - 20 December GBP/USD Daily Forecast - 21 December »

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