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AUD/USD Daily Forecast – 28 June

Tuesday, Jun 27 2017
AUD/USD Daily Forecast – 28 June

There were no major data releases from Australia yesterday, with Aussie being fairly stable. The Reserve Bank of Australia kept on saying that higher Aussie is complicating the economic adjustment. In other words, "we don’t like it higher." However, traders need to be very careful. A breakout means a weekly close well above 0.7830’s in order to confirm a breakout. Otherwise, the Reserve Bank of Australia is likely to use its tools directly or indirectly to keep the Aussie under pressure once again.

In the US session CB Consumer Confidence figures were released. The Conference Board Consumer Confidence Index, which had decreased in May, increased moderately in June. The Index now stands at 118.9 (1985=100), up from 117.6 in May. The Present Situation Index increased from 140.6 to 146.3, while the Expectations Index declined from 102.3 last month to 100.6. The monthly Consumer Confidence Survey, based on a probability-design random sample, is conducted for The Conference Board by Nielsen, a leading global provider of information and analytics around what consumers buy and watch. The cutoff date for the preliminary results was June 15.

 

There will be no major data releases both from Australia and USA tomorrow so we can expect a bit steadier session.

More in this category: « EUR/USD Daily Forecast – 27 June GBP/USD Daily Forecast – 28 June »

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