wrapper

AUD/USD Daily Forecast – 02 October

Saturday, Sep 30 2017
AUD/USD Daily Forecast – 02 October

There were no data releases from Australia on Friday. The end of last week found the Australian Dollar near six-week lows against its US cousin. There wasn’t anything especially currency-specific about this weakness. The US currency found general support among investors prepared to bet that a proposed cut in tax rates will pass Congress and go on to boost both economic growth and inflation. President Donald Trump’s plan was characteristically short on detail and will face high legislative hurdles. Congress will only sit for 30 more days this year. But it proposes swingeing tax cuts and that was enough to see the US Dollar off to the races. Global investors always like a US tax cut and, with two-year US Treasury yields now at highs not seen since 2008, the greenback’s allure is clear.

In the US session Revised Consumer Sentiment data was released. The consumer sentiment index, a survey of consumers by The University of Michigan, hit 95.1 in September in a final reading Friday, which was lower than expected. Economists polled by Reuters anticipated a reading of 95.3 for the month. In August the index returned to near peak levels recorded earlier in 2017, hitting 96.8 in the final recording in August. "The resilience of consumers has again been demonstrated as concerns about the impact of the hurricanes on the national economy have quickly faded," Richard Curtin, chief economist for the Surveys of Consumers, said in a statement on Friday.

 

There will be no major data releases from Australia on Monday. In the US session Manufacturing PMI figures will be published. Analyst predict slight decrease.

 

Figures to watch:

 

ISM Non-Manufacturing PMI (Monday 16:00)

More in this category: « EUR/USD Daily Forecast – 28 September GBP/USD Daily Forecast – 02 October »

Latest from Editor

About Us

Forex Web News is part of Rolling Capital Network providing financial consulting.

Within the Forex Web News we provide our readers with expert and timely technical analyses, fundamental analyses and news; with one aim – for our readers to make best possible financial decisions.

Forex Web News desks and analysis department follow the international markets closely and create high quality proprietary content on a both daily and weekly basis.

.

All our analysts have several years of trading and analysis experience. The Forex Web News analysis team creates daily and weekly analyses and offer forecasts regarding where they believe the markets are heading. Our readers are provided with data displayed both in texts and on graphs, providing them the fullest understanding of what is happening in the market place.

We are constantly growing our news desks and our analysis departments as we strive to broaden the content we provide to visitors of the Forex Web News.

Disclaimer

Rolling-capital.com – The company, employees, subsidiaries and associates, are not liable nor shall they be held liable jointly or severally for any loss or damage as a result of reliance on the information provided on this website. The data contained in this website is not necessarily provided in real-time nor is it necessarily accurate. All prices herein are provided by market makers and not by exchanges. As such prices may not be accurate and they may differ from the actual market price. rolling-capital.com bears no responsibility for any trading losses you might incur as a result of using any data within the Forex Web News.