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AUD/USD Daily Forecast - 2 July

Friday, Jun 29 2018
AUD/USD Daily Forecast - 2 July

From Australia, on Friday, New Home Sales figures were released. The first half of 2018 has seen a downward trend in new house sales. Sales across the five mainland states declined by 4.4 per cent in May, representing a fifth consecutive monthly fall. Sales are now 14.1 per cent lower than in May 2017. The deterioration of sales over the year to date reflects the shifts in housing market conditions. The availability of credit has tightened over the past 12 months with banks responding to the decline in house prices and the Banking Royal Commission.

 

In the US session Consumer Sentiment data was released. Consumer sentiment jumped at the beginning of June, moving opposite of expectations and heading back toward levels seen earlier this year. The University of Michigan's Friday report on consumer attitudes about the economy hit 99.3 in a preliminary June reading, higher than the 98.3 expected by a survey of Reuters economists. The index was more than a point above May's reading of 98 and rose to its highest level since hitting 101.4 in March.

There will be no major data releases from Australia on Monday. In the US session ISM Manufacturing PMI figures will be published. Decline to 58.2 is predicted.

Figures to watch:

ISM Manufacturing PMI (Monday 15:00)

Last modified on Friday, 29 June 2018
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