AUD/USD Weekly Forecast – 21 December – 25 December

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Friday, Dec 18 2015

Events that marked the week:

On Tuesday, from Australia, RBA Meeting Minutes and House Prices figures have been released. The minutes of the Reserve Bank of Australia's December meeting noted there was still scope to ease further from a record low 2.0% with inflation levels offering room. The Australian dollar lifted overnight after oil prices rose on a short-covering come-back and commodities bounced to new record lows with key iron ore posting a gain, showing signs it is responding to news that Chinese smelters are being cut back, IG market strategist Evan Lucas said.

The price index for residential properties for the weighted average of the eight capital cities rose 2.0% in the September quarter 2015. This was in line with market expectations. The index rose 10.7% through the year to the September quarter 2015. The total value of residential dwellings in Australia was $5,859,824.6m at the end of September quarter 2015, rising $137,125.0m over the quarter.

Next week will offer no dana releases from Australia, and with holiday season starting we can expect a bit steadier sessions, though we would pay attention to commodity prices.

More in this category: « EUR/USD Weekly Forecast – 14 December – 18 December GBP/USD Weekly Forecast – 21 December – 25 December »

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