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AUD/USD Daily Forecast - 29 June

Thursday, Jun 28 2018
AUD/USD Daily Forecast - 29 June

There were no major data releases from Australia yesterday. "A re-evaluation in the market about the outlook for RBA policy this year and a drop in risk appetite has also impacted the AUD in recent months. In view of our concerns about the impact of trade wars and in view of our expectations of steady RBA policy well into next year, we see further downside potential for AUD/USD towards 0.72 on a 12 mth view," analysts at Rabobank argued.

In the US session GDP data was published. Real gross domestic product (GDP) increased at an annual rate of 2.0 percent in the first quarter of 2018 according to the "third" estimate released by the Bureau of Economic Analysis. In the fourth quarter, real GDP increased 2.9 percent. In the second estimate, the increase in real GDP was 2.2 percent. With this third estimate for the first quarter, the general picture of economic growth remains the same; private inventory investment and personal consumption expenditures (PCE) were revised down.

There will be no top data releases both from Australia and USA tomorrow so we can expect steadier end of the week.

More in this category: « EUR/USD Daily Forecast - 28 June GBP/USD Daily Forecast - 29 June »

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