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AUD/USD Daily Forecast – 26 September

Monday, Sep 25 2017
AUD/USD Daily Forecast – 26 September

There were no major data releases from Australia yesterday, with Aussie being traded in a tighter range. An optimistic Reserve Bank of Australia (RBA) drove the Australian Dollar higher early in the week, but prices tumbled by the end of the week in reaction to the Fed’s hawkish tone. The AUD/USD settled at .7959, down 0.0041 or 0.51%.

According to the minutes of the RBA’s September 5 meeting, the central bank remains upbeat on growth, indicating that it believes the economy is moving into a new phase as it shrugs off a lengthy downturn in mining investment while job market conditions also improve. In the minutes, the RBA noted a broad job market improvement, and that recent data continued to support its forecast for 3.0 percent GDP growth in 2018.

 

There will be no major data releases from Australia tomorrow. In the US session CB Consumer Confidence and New Home Sales figures will be published. Consumer Confidence should fall to 119.1, while New Home Sales should be at an annular rate of 591,000.

 

Figures to watch:

 

CB Consumer Confidence (Tuesday 16:00)

New Home Sales (Tuesday 16:00)

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

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