wrapper

AUD/USD Daily Forecast – 29 November

Tuesday, Nov 28 2017
AUD/USD Daily Forecast – 29 November

There were no data releases from Australia yesterday. On what was an otherwise quiet session, Ray Attrill, Head of FX Strategy at the National Australia Bank, said the the US dollar found support following hawkish remarks from Robert Kaplan, Dallas Fed President, in an essay posted on the bank’s website. “If we wait too long to see actual evidence of inflation, we may get behind the curve and have to subsequently raise rates more rapidly,” Kaplan said. “This type of rapid rate rise has the potential to increase the risk of recession.” Along with Kaplan’s remarks, Attrill said the US dollar also got a boost from a tweet on the progress of US tax reform from US President Donald Trump.

In the US session CB Consumer Confidence figures were published. The Conference Board Consumer Confidence Index, which had improved in October, increased further in November. The Index now stands at 129.5 (1985=100), up from 126.2 in October. The Present Situation Index increased from 152.0 to 153.9, while the Expectations Index rose from 109.0 last month to 113.3. "Consumer confidence increased for a fifth consecutive month and remains at a 17-year high (Nov. 2000, 132.6)," said Lynn Franco, Director of Economic Indicators at The Conference Board.

 

There will be no major data releases from Australia tomorrow. In the US session GDP figures will be published. Analysts expect growth by 3.3%. However, the focus of the session will be on Fed Chair Yellen testimony.

 

Figures to watch:

 

Prelim GDP (Wednesday 14:30)

Fed Chair Yellen Testifies (Wednesday 16:00)

More in this category: « EUR/USD Daily Forecast – 28 November GBP/USD Daily Forecast – 29 November »

Latest from Editor

About Us

Forex Web News is part of Rolling Capital Network providing financial consulting.

Within the Forex Web News we provide our readers with expert and timely technical analyses, fundamental analyses and news; with one aim – for our readers to make best possible financial decisions.

Forex Web News desks and analysis department follow the international markets closely and create high quality proprietary content on a both daily and weekly basis.

.

All our analysts have several years of trading and analysis experience. The Forex Web News analysis team creates daily and weekly analyses and offer forecasts regarding where they believe the markets are heading. Our readers are provided with data displayed both in texts and on graphs, providing them the fullest understanding of what is happening in the market place.

We are constantly growing our news desks and our analysis departments as we strive to broaden the content we provide to visitors of the Forex Web News.

Disclaimer

Rolling-capital.com – The company, employees, subsidiaries and associates, are not liable nor shall they be held liable jointly or severally for any loss or damage as a result of reliance on the information provided on this website. The data contained in this website is not necessarily provided in real-time nor is it necessarily accurate. All prices herein are provided by market makers and not by exchanges. As such prices may not be accurate and they may differ from the actual market price. rolling-capital.com bears no responsibility for any trading losses you might incur as a result of using any data within the Forex Web News.