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AUD/USD Daily Forecast - 28 June

Wednesday, Jun 27 2018
AUD/USD Daily Forecast - 28 June

There were no data releases from Australia yesterday. The AUD/USD pair staged a 40-pip recovery in the last minutes and rose above the 0.74 mark after the statement released by the White House helped the market sentiment improve. As of writing, the pair was virtually unchanged on the day at 0.7395. A senior Trump administration official said that President Trump decided against invoking national emergency law on China and added that the investment environment in the U.S. would remain open. Meanwhile, the White House published a press release highlighting that the administration would modify U.S. export controls to strengthen them if commerce department review finds that necessary.

In the US session Durable Goods Orders figures were published. New orders for U.S.-made capital goods and shipments unexpectedly fell in May, but upward revisions to data for the prior month pointed to moderate growth in business spending on equipment in the second quarter. The Commerce Department said orders for non-defense capital goods excluding aircraft, a closely watched proxy for business spending plans, slipped 0.2 percent last month. April data was revised to show the so-called core capital goods orders surging 2.3 percent instead of the previously reported 1.0 percent rise. Economists polled by Reuters had forecast core capital goods orders gaining 0.5 percent last month.

There will be no data releases from Australia tomorrow. In the US session Final GDP figures will be released. Growth by 2.2% is anticipated.

Figures to watch:

Final GDP (Thursday 13:30)

More in this category: « EUR/USD Daily Forecast - 27 June GBP/USD Daily Forecast - 28 June »

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