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AUD/USD Daily Forecast – 17 October

Monday, Oct 16 2017
AUD/USD Daily Forecast – 17 October

There were no data releases from Australia yesterday, but from China CPI and PPI figures were released. China's consumer price index rose 1.6 percent in September from a year ago, meeting expectations, data from the National Bureau of Statistics showed on Monday. Meanwhile, the producer price index jumped 6.9 percent in September from a year ago, which topped expectations. This was spurred by a year-long drive in construction spending that includes government-led infrastructure investment. According to a Reuters poll, China's Consumer Price Index was forecast to rise 1.6 percent in September from a year ago. August CPI was 1.8 percent.

In the US session Empire State Manufacturing Index data was published. Business activity grew at a robust pace in New York State, according to firms responding to the October 2017 Empire State Manufacturing Survey. The headline general business conditions index climbed six points to 30.2, its highest level in three years. The new orders index came in at 18.0 and the shipments index rose eleven points to 27.5—readings that pointed to ongoing solid gains in orders and shipments. Delivery times were slightly longer, and inventory levels decreased.

 

Tomorrow, from Australia, RBA Monetary Policy Meeting Minutes will be published. In the US session Industrial Production figures will be published. Analyst predict 0.4% increase.

 

Figures to watch:

 

RBA Monetary Policy Meeting Minutes (Tuesday 3:30)

Industrial Production (Tuesday 15:15)

More in this category: « EUR/USD Daily Forecast – 16 October GBP/USD Daily Forecast – 17 October »

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