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AUD/USD Daily Forecast – 13 November

Saturday, Nov 11 2017
AUD/USD Daily Forecast – 13 November

Friday brought RBA Monetary Policy Statement. The Reserve Bank of Australia (RBA) has just released its latest quarterly Statement on Monetary Policy (SoMP), including updated projections on GDP growth, inflation and unemployment over the next few years. The most noticeable tweak involves the bank’s underlying inflation forecasts, those which are of most importance on the outlook for interest rates, with the bank now forecasting that it will move back to the bottom of its 2-3% target range by the middle of 2019. Not in the target band, but at the bottom of the target band. In its previous forecasts, the midpoint had underlying inflation hitting 2% by the end of 2018 before moving back to 2.5% during 2019.

In the U.S. session Consumer Sentiment figures were released. Consumer sentiment in U.S. unexpectedly fell by the most in a year amid expectations that inflation and interest rates will rise, according to a University of Michigan report Friday. Sentiment index dropped to 97.8 (est. 100.8) from 100.7. Current conditions gauge, which measures Americans’ perceptions of their finances, fell to 113.6 from 116.5. Expectations measure decreased to 87.6 from 90.5.

 

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

More in this category: « EUR/USD Daily Forecast – 10 November GBP/USD Daily Forecast – 13 November »

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