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AUD/USD Weekly Forecast – 01 May – 05 May

Friday, Apr 28 2017
AUD/USD Weekly Forecast – 01 May – 05 May

Events that marked the week:

Focus of Wednesday's session was on Australian CPI figures. The annual rate of inflation has crept above two per cent for the first time in two years but won't have the Reserve Bank reaching for interest rate hike lever anytime soon with question marks remaining over the strength of the labour market. New figures showed the consumer price index rising 0.5 per cent in the March quarter, a slightly smaller increase than most economists had been expecting.

On Friday, only Australian PPI figures were published. Australian PPI rose 0.5% in the March quarter 2017. The rise was mainly due to rises in the prices received for Electricity supply, gas supply; and water supply, sewerage and drainage services (+2.9%), Building construction (+0.5%) and Petroleum refining and petroleum fuel manufacturing (+6.8%). It was partly offset by falls in the prices received for Specialised machinery and equipment manufacturing (-2.6%), Motor vehicle and motor vehicle part manufacturing (-0.8%) and Commercial fishing (-17.6%). rose 1.3% through the year to the March quarter 2017.

 

This week markets will be looking at:

 

Caixin Manufacturing PMI (Tuesday 3:45)

Cash Rate/RBA Rate Statement (Tuesday 6:45)

Trade Balance (Thursday 3:30)

More in this category: « EUR/USD Weekly Forecast – 24 April – 28 April GBP/USD Weekly Forecast – 01 May – 05 May »

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