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AUD/USD Daily Forecast – 30 October

Friday, Oct 27 2017
AUD/USD Daily Forecast – 30 October

Friday brought Australian PPI figures.Australian PPI rose 0.2% in the September quarter 2017. Increase was mainly due to rises in the prices received for Electricity, gas and water supply (+4.9%), Heavy and civil engineering construction (+0.7%) and Building construction (+0.3%).This waspartly offset by falls in the prices received for Other agriculture (-11.6%), Electronic equipment manufacturing (-4.5%) and Meat and meat product manufacturing (-6.0%).PPI rose 1.6% through the year to the September quarter 2017.

In the U.S. session GDP data was published. Real gross domestic product (GDP) increased at an annual rate of 3.0 percent in the third quarter of 2017, according to the "advance" estimate released by the Bureau of Economic Analysis. In the second quarter, real GDP increased 3.1 percent. The Bureau emphasized that the third-quarter advance estimate released today is based on source dana that are incomplete or subject to further revision by the source agency. The "second" estimate for the third quarter, based on more complete data, will be released on November 29, 2017.

 

There will be no major data releases both from Australia and USA on Monday so we expect a bit steadier session.

More in this category: « EUR/USD Daily Forecast – 27 October GBP/USD Daily Forecast – 30 October »

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