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AUD/USD Daily Forecast – 04 July

Monday, Jul 03 2017
AUD/USD Daily Forecast – 04 July

From Australia, yesterday, Building Approvals figures were released. The trend estimate for total dwellings approved fell 1.9% in May and has fallen for three months. The seasonally adjusted estimate for total dwellings approved fell 5.6% in May following a rise of 4.8% in the previous month. The trend estimate for private sector houses approved was flat in May. The seasonally adjusted estimate for private sector houses rose 0.6% in May and has risen for two months.

In the US session ISM Manufacturing PMI data was published. The June PMI registered 57.8 percent, an increase of 2.9 percentage points from the May reading of 54.9 percent. The New Orders Index registered 63.5 percent, an increase of 4 percentage points from the May reading of 59.5 percent. The Production Index registered 62.4 percent, a 5.3 percentage point increase compared to the May reading of 57.1 percent. The Employment Index registered 57.2 percent, an increase of 3.7 percentage points from the May reading of 53.5 percent. The Supplier Deliveries index registered 57 percent, a 3.9 percentage point increase from the May reading of 53.1 percent.

 

Tomorrow's session will bring Australian Retail Sales figures and RBA interest rate decision. Analysts predict 0.3% increase in Retail Sales and no change in interest rates. There will be no data releases in the US part of the session.

 

Figures to watch:

 

Retail Sales (Tuesday 6:30)

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

More in this category: « EUR/USD Daily Forecast – 03 July GBP/USD Daily Forecast – 04 July »

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