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AUD/USD Daily Forecast – 25 January

Wednesday, Jan 25 2017
AUD/USD Daily Forecast – 25 January

There were no data releases from Australia yesterday. Volatility in the Australian Dollar New Zealand Dollar exchange rate is likely to continue to worsen unless the US Trump administration edges away from its protectionist stance. This week’s domestic data is most likely to influence direction in AUD in the short term however. Wednesday’s Asian session will be highly important for the Australian Dollar in particular, as Australia’s Q4 Consumer Price Index (CPI) results will be published.

In the US session Existing Home Sales figures were released. Sales of previously-owned homes dipped in December, as increasingly tight inventory and higher prices began to stifle the housing market. Existing-home sales ran at a seasonally-adjusted annual pace of 5.49 million, the National Association of Realtors said Tuesday. That was down 2.8% from an upwardly-revised November, which marked a nine-year high, but only 0.7% higher than a year ago. Economists surveyed by MarketWatch had forecast a rate of 5.51 million.

 

Australian inflation is expected to come in at 0.7% again quarter-on-quarter, with yearly inflation predicted to improve from 1.3% to 1.6%. There will be no major data releases in the US part of the session.

 

Figures to watch:

 

CPI (Wednesday 1:30)

More in this category: « EUR/USD Daily Forecast – 24 January GBP/USD Daily Forecast – 25 January »

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