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AUD/USD Weekly Forecast - 31 October – 04 November

Friday, Oct 28 2016
AUD/USD Weekly Forecast - 31 October – 04 November

Events that marked the week:

Wednesday was marked by Australian CPI figures. Consumer prices rose 0.7 per cent in the September quarter, with fruit, vegetables, electricity and tobacco the main reasons for increased inflation. The quarterly price rise still left annual headline inflation at an anaemic 1.3 per cent, according to the Bureau of Statistics. The average of the Reserve Bank's two preferred measures, which exclude the most volatile price moves, was 1.5 per cent, still well below its 2-3 per cent inflation target.

Friday's session was marked by PPI data. Australian PPI rose 0.3% in the September quarter 2016. The raise was mainly due to rises in the prices received for other agriculture which includes bananas, beans and tomatoes (+8.3%), sheep, beef cattle and grain farming; and dairy cattle farming (+11.9%) and electricity supply, gas supply and water supply, sewerage and drainage services (+1.7%).

 

This week markets will be looking at:

 

China's Manufacturing PMI (Tuesday 3:00)

Cash Rate/RBA Statement (Tuesday 5:30)

Building Approvals (Wednesday 2:30)

Trade Balance (Thursday 2:30)

RBA Monetary Policy Statement (Friday 2:30)

Retail Sales (Friday 2:30)

More in this category: « EUR/USD Weekly Forecast - 17 October – 21 October GBP/USD Weekly Forecast - 31 October – 04 November »

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