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AUD/USD Daily Forecast – 06 June

Monday, Jun 05 2017
AUD/USD Daily Forecast – 06 June

From Australia, yesterday, Company Operating Profits figures were published. The trend estimate for inventories rose 0.6% in the March quarter 2017. The seasonally adjusted estimate rose 1.2% this quarter. The trend estimate for Manufacturing sales of goods and services fell 1.0% this quarter. The seasonally adjusted estimate fell 1.4% this quarter. The trend estimate for Wholesale trade sales of goods and services rose 1.9% this quarter. The seasonally adjusted estimate rose 1.5%. The seasonally adjusted estimate for company gross operating profits rose 6.0% in the March quarter 2017.

In the US session Non-Manufacturing PMI data was published. The NMI® registered 56.9 percent, which is 0.6 percentage point lower than the April reading of 57.5 percent. This represents continued growth in the non-manufacturing sector at a slightly slower rate. The Non-Manufacturing Business Activity Index decreased to 60.7 percent, 1.7 percentage points lower than the April reading of 62.4 percent, reflecting growth for the 94th consecutive month, at a slower rate in May. The New Orders Index registered 57.7 percent, 5.5 percentage points lower than the reading of 63.2 percent in April.

 

Focus of tomorrow's session will be on RBA rate decision and the following statement. Analysts predict no change. There will be no data releases in the US part of the session.

 

Figures to watch:

 

RBA Rate Statement/Cash Rate (Tuesday 6:30)

More in this category: « EUR/USD Daily Forecast – 05 June GBP/USD Daily Forecast – 06 June »

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