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AUD/USD Daily Forecast – 17 January

Tuesday, Jan 16 2018
AUD/USD Daily Forecast – 17 January

From Australia, yesterday, New Motor Vehicle Sales figures were released. The December 2017 trend estimate (99,756) increased by 0.2% when compared with November 2017. In seasonally adjusted terms sales rose by 4.5%. When comparing national trend estimates for December 2017 with November 2017, sales for Sports utility and Other vehicles both increased by 0.5%. By contrast, Passenger vehicles decreased by 0.3%. The largest upward movement across all states and territories, on a trend basis, was in Tasmania (2.2%), continuing an upward trend that began in April 2017.

In the US session Empire State Manufacturing Index data was published. Business activity continued to grow at a solid clip in New York State, according to firms responding to the January 2018 Empire State Manufacturing Survey. The headline general business conditions index, at 17.7, was little changed from last month’s level. The new orders index and the shipments index both showed ongoing growth, although at a slower pace than in December.

 

There will be no major data release from Australia tomorrow. In the US session Industrial Production figures will be published. Analysts predict increase by 0.4%.

 

Figures to watch:

 

Industrial Production (Wednesday 15:15)

More in this category: « EUR/USD Daily Forecast – 16 January GBP/USD Daily Forecast – 17 January »

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