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AUD/USD Daily Forecast – 26 July

Tuesday, Jul 25 2017
AUD/USD Daily Forecast – 26 July

There were no data releases from Australia yesterday with focus more on developments in China, Australian first trading partner. Commenting on the country's economic development in the first half of the year, Xi said the economy maintained steady growth with a positive outlook, deepened structural adjustment, and better-than-expected performance in major indicators. The macro-economy is more stable, and people's lives are getting better, the president said. He noted positive changes are taking place in the economy, saying the fundamentals of economic and social development are sound.

In the US session CB Consumer Confidence figures were published. Consumer confidence rose in July to the second highest level in 16 years as Americans shrugged off all the drama in President Trump’s Washington and took heart in the best labor market in a decade. The Conference Board said its consumer confidence index rose to 121.1 this month from 117.3 in June. The increase exceeded the 116.9 forecast of economists polled by MarketWatch.

 

From Australia tomorrow, CPI figures will be published. Increase by 0.4% is anticipated. In the US session focus will be on FOMC interest rate decision and the following statement though analysts do not expect any changes.

 

Figures to watch:

 

CPI (Wednesday 3:30)

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

More in this category: « EUR/USD Daily Forecast – 25 July GBP/USD Daily Forecast – 26 July »

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