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AUD/USD Daily Forecast – 14 June

Tuesday, Jun 13 2017
AUD/USD Daily Forecast – 14 June

From Australia, yesterday, NAB Business Confidence figures were published. Business conditions eased slightly in May, but are holding up at elevated levels. The business conditions index fell 1 point, to +12 index points, which is well above the long-run average (+5). In contrast, business confidence is looking less buoyant, although it has remained above long-run average levels. The confidence index dropped 6 points in May, to +7 index points – compared to a long-run average of +6 for the series.

In the US session PPI data was published. The Producer Price Index for final demand was unchanged in May, seasonally adjusted, the U.S.  Bureau of Labor Statistics reported today. Final demand prices rose 0.5 percent in April and edged down 0.1 percent in March. On an unadjusted basis, the final demand index increased 2.4 percent for the 12 months ended in May.Within final demand in May, a 0.3-percent increase in the index for final demand services offset a 0.5-percent decline in prices for final demand goods.

 

There will be no data releases from Australia tomorrow, but from China Industrial Production figures will be published. Analysts anticipate increase by 6.4%. In the US session CPI and Retail Sales figures will be released however the focus will be on Fed interest rate decision and following press conference. CPI is expected to increase to by 0.2%, while Retail Sales should incline by 0.1%. Fed is also forecasted to rise interest rates to 1.25%.

 

Figures to watch:

 

China's Industrial Production (Wednesday 4:00)

CPI (Wednesday 14:30)

Retail Sales (Wednesday 14:30)

Federal Funds Rate/FOMC Statement (Wednesday 20:00)

 

 

More in this category: « EUR/USD Daily Forecast – 13 June GBP/USD Daily Forecast – 14 June »

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