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AUD/USD Weekly Forecast – 01 August – 05 August

Saturday, Jul 30 2016

Events that marked the week:

Wednesday's session was marked by Australian CPI data. Consumer prices increased by just 0.4 per cent for the June quarter, according to the latest data from the Australian Bureau of Statistics. This takes annual inflation to just 1 per cent, the weakest annual rise since 1999. Economists surveyed by Bloomberg were typically expecting an annual headline inflation rate of 1.1 per cent, with a quarterly figure of 0.4. There was a wide range of forecasts, with guesses on the annual figure ranging from 0.8 to 1.5 per cent.

Thursday's session brought only Australian Import Prices data. The Import Price Index fell 1.0% in the June quarter 2016. Through the year to the June quarter 2016, the Import Price Index fell 2.8%. The Export Price Index rose 1.4% in the June quarter 2016. Through the year to the June quarter 2016, the Export Price Index fell 8.7%.

 

On Friday Australian PPI data was released. Australian PPI rose 0.1% in the June quarter 2016. This was mainly due to rises in the prices received for petroleum refining and petroleum fuel manufacturing (+13.6%), meat and meat product manufacturing (+3.7%) and building construction (+0.4%). It was partly offset by falls in the prices received for computer and electronic equipment manufacturing (-3.3%), specialised machinery and equipment manufacturing (-3.8%) and fruit and vegetable processing (-5.4%). PPI rose 1.0% through the year to the June quarter 2016.

 

This week markets will be looking at:

 

China's Manufacturing PMI (Monday 3:00)

Caixin Manufacturing PMI (Monday 3:45)

Building Approvals (Tuesday 3:30)

Trade Balance (Tuesday 3:30)

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

Retail Sales (Thursday 3:30)

RBA Monetary Policy Statement (Friday 3:30)

More in this category: « EUR/USD Weekly Forecast – 25 July – 29 July GBP/USD Weekly Forecast – 01 August – 05 August »

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