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AUD/USD Daily Forecast – 26 October

Wednesday, Oct 25 2017
AUD/USD Daily Forecast – 26 October

Yesterday's session was marked by Australian CPI figures. Australia’s September quarter consumer price inflation (CPI) report has come in well below expectations, scuppering any talk of a near-term interest rate increase from the Reserve Bank of Australia (RBA). According to the Australian Bureau of Statistics (ABS), headline CPI rose by 0.6% over the September quarter, leaving the change on a year earlier at 1.8%. Economists were looking for an increase of 0.8%, seeing the year-on-year rate tick up from 1.9% to 2%. The quarterly increase was driven by higher utility, tobacco, and travel prices, offsetting weakness in vegetable, fuel and telecommunication costs.

In the US session Durable Goods Orders data was published. U.S. orders for business equipment increased more than forecast in September, indicating solid investment momentum as the third quarter drew to a close, Commerce Department figures showed Wednesday. Non-military capital goods orders excluding aircraft climbed 1.3% (est. 0.3% gain) for a third straight month. Shipments of those goods, which are used to calculate gross domestic product, rose 0.7% (est. 0.1% gain) after a revised 1.2% advance. Bookings for all durable goods jumped 2.2% (est. 1% advance) following 2% increase. Excluding transportation-equipment demand, which is volatile, orders rose 0.7% for a second month.

 

There will be no major data releases from Australian tomorrow. In the US session Unemployment Claims figures will be released. Analysts forecast increase to 235,000.

 

Figures to watch:

 

Unemployment Claims (Thursday 14:30)

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

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