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AUD/USD Daily Forecast – 27 October

Thursday, Oct 26 2017
AUD/USD Daily Forecast – 27 October

From Australia, yesterday, Import and Export Prices figures were released. The Import Price Index fell 1.6% in the September quarter 2017. This follows a fall in the June quarter 2017 of 0.1%. The fall was driven by lower prices paid for Telecommunication and sound recording equipment (-7.8%), Petroleum, petroleum products and related materials (-2.0%) and Office and automatic data processing machines (-4.7%). Through the year to the September quarter 2017, the Import Price Index fell 0.4%, driven by Telecommunications and sound recording equipment (-15.9%). The Export Price Index fell 3.0% in the September quarter 2017. This follows a fall in the June quarter 2017 of 5.7%.

In the US session Unemployment Claims data was published. U.S. filings for unemployment benefits rose last week from the lowest level since 1973, consistent with a steady job market, Labor Department figures showed Thursday. Jobless claims increased by 10k to 233k (est. 235k). Continuing claims fell by 3k to 1.89m in week ended Oct. 14, lowest since December 1973 (data reported with one-week lag). Less-volatile four-week average of initial claims declined to 239.5k from 248.5k in prior week.

 

Tomorrow's session will bring Australian PPI data. Incline by 0.4% is expected. In the US session GDP figures will be published. Analysts anticipate 2.6% growth.

 

Figures to watch:

 

PPI (Friday 2:30)

Advance GDP (Friday 14:30)

More in this category: « EUR/USD Daily Forecast – 26 October GBP/USD Daily Forecast – 27 October »

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