AUD/USD Daily Forecast - 14 February

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Tuesday, Feb 13 2018

AUD/USD Daily Forecast - 14 February

From Australia, yesterday, NAB Business Confidence figures were released. The business conditions index jumped 6pts to a strong +19 index points, which is well above the long-run average of +5 index points. According to Alan Oster, NAB Group Chief Economist “The large rise in the NAB Monthly Business Survey business conditions index provides further confirmation of robust business activity in Australia. While the index can bounce around from month-to-month due to changes in seasonal patterns, conditions remain elevated on a trend basis.”

The business confidence index also rose by 2pts to +12 index points, its highest level since April 2017. According to Mr Oster “The rise in confidence may reflect the improved global economic backdrop, but it is important to note that the survey was conducted before the current turbulence in international financial markets”.

There will be no major data releases from Australia tomorrow. In the US session CPI and Retail Sales figures will be published. Analysts expect 0.4% increase in CPI and 0.2% incline in CPI.

Figures to watch:

Retail Sales (Wednesday 14:30)

CPI (Wednesday 14:30)

More in this category: « EUR/USD Daily Forecast - 13 February GBP/USD Daily Forecast - 14 February »

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