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AUD/USD Weekly Forecast - 04 May - 08 May

Friday, May 01 2015

Events that marked the week:

Though there were no major data releases from Australia, Aussie was pushed higher on Tuesday morning after Reserve Bank Governor Glenn Stevens said “ahead of next week’s meeting of the Reserve Bank Board, I have no comments to offer today on monetary policy.”While his talk was mainly about the financial system he did break away near the end to give a very strong hint that he and his colleagues at the RBA are now viewing the risks to the economy that flow from super low rates. That’s a huge departure from what has always been assumed as the RBA’s standard operating procedure — low rates are good because they put more money in the hands of borrowers.

 

From Australia, on Thursday, Import Prices figures were released.Latest released showed that Import Price Index fell 0.2% in the March quarter 2015. Analysts were predicting 1.1% increase. Through the year to the March quarter 2015, the Import Price Index fell 3.0%. The Export Price Index fell 0.8% in the March quarter 2015. Through the year to the March quarter 2015, the Export Price Index fell 12.2%. That missed forecasts for a flat reading, which would have been unchanged from the previous three months. Separate report on Private Sector Credit showed 0.5% growth in line with market forecasts. Largest contributor to the growth was housing sector credit with 0.6% incline, though both personal and business credits rose. On a yearly basis credits rose by 6.2% to March 2015, above 4.4% in March of 2014.

 

This week markets will be looking at:

 

Building Approvals (Monday 3:30)

ANZ Job Advertisements (Monday 3:30)

HSBC Final Manufacturing PMI (Monday 3:30)

Trade Balance(Tuesday 3:30)

Cash Rate/RBA Rate Statement (Tuesday 6:30)

Retail Sales (Wednesday 3:30)

Employment Change/Unemployment Rate (Thursday 3:30)

RBA Monetary Policy Statement (Friday 3:30)

China's Trade Balance (Friday)

More in this category: « EUR/USD Weekly Forecast - 27 April - 01 May GBP/USD Weekly Forecast - 04 May - 08 May »

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