AUD/USD Daily Forecast – 19 July

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Tuesday, Jul 18 2017

AUD/USD Daily Forecast – 19 July

From Australia, yesterday, RBA Meeting Minutes were released. The RBA minutes revealed that the policymakers remain upbeat on the economy, and markets believe that the next policy move could be very well a rate hike. This boosted the Aussie across the board, sending the core pair more than 1 big figure higher through the key upside barrier located at 0.7850 levels, only to proceed its course higher towards 0.79 handle.

The rebound in the Aussie can be also attributed to broad based US dollar weakness, after the Senate Republicans rejected Trump’s Healthcare bill yet again. The USD index slumps -0.38% to trade near fresh 10-month lows of 94.53. Markets now await fresh fundamental catalysts for further momentum on the pair. In the meantime, the USD dynamics and hawkish RBA minutes could continue to underpin the sentiment around the AUD/USD pair.

There will be no major data releases from Australia tomorrow. In the US session Building Permits and Housing Starts figures will be published. Analysts predict incline to 1.20 million in Building Permits and to 1.16 million in Housing Starts.

Figures to watch:

Building Permits/Housing Starts (Wednesday 14:30)

More in this category: « EUR/USD Daily Forecast – 18 July GBP/USD Daily Forecast – 19 July »

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