AUD/USD Weekly Forecast – 23 November – 27 November

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Friday, Nov 20 2015

Events that marked the week:

Focus of the morning part of Tuesday's session was on RBA Meeting Minutes. “The forecast for the Australian economy remained for growth to strengthen gradually,” the Reserve Bank of Australia said Tuesday in minutes of its Nov. 3 meeting. In assessing the outlook for monetary policy, the minutes reiterated a dual narrative the RBA has employed of late: prospects for an improvement of economic conditions have firmed while a low inflation outlook could provide some scope for further easing if needed.

From Australia, on Wednesday, Wage Price Index data was published. The seasonally adjusted Wage Price Index (WPI) rose 0.6% in the September quarter 2015 and 2.3% over the last year, according to figures released today by the Australian Bureau of Statistics (ABS). This was in line with market expectations. In the September quarter, the largest rise (original series) of all industries is 1.6% in Accommodation and food services. Finance and insurance services had the smallest rise of 0.2%.

Next week markets will be looking at:

Private Capital Expenditure (Thursday 14:30)

More in this category: « EUR/USD Weekly Forecast – 16 November – 20 November GBP/USD Weekly Forecast – 23 November – 27 November »

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