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AUD/USD Daily Forecast – 17 January

Monday, Jan 16 2017
AUD/USD Daily Forecast – 17 January

There were no major data releases from Australia yesterday, with Aussie being slightly lower, however, there wasn't much volatility with US bank holiday. A closely watched indicator of Australian inflation rose for the fifth straight month in December, an early indication that easy central bank policy was having its desired effect. The TD Securities-Melbourne Institute consumer inflation gauge climbed 0.5% in December and was up 1.8% from a year ago. That was the biggest gain in six months. In November, the inflation index nudged up 0.1%, which translated into a year-over-year gain of 1.5%.

Westpac Consumer Confidence for January is on Tuesday’s calendar. The key event of the week in Australia takes place overnight Wednesday, as employment data will be released. The unemployment rate is expected to hold at 5.7%, while the number of jobs falls by 14,100 from 39,300 last month. HIA New Home Sales are out overnight Thursday. There are no economic releases on the calendar on Friday in Australia.

 

Tomorrow Home Loan data and New Motor Vehicle Sales are set to be released. There will be no major data releases in the US part of the session.

More in this category: « EUR/USD Daily Forecast – 06 January GBP/USD Daily Forecast – 17 January »

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