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AUD/USD Weekly Forecast – 22 May – 26 May

Friday, May 19 2017
AUD/USD Weekly Forecast – 22 May – 26 May

Events that marked the week:

There were no data releases from Australia on Monday, but from China Industrial Production figures were published. Broad measures of Chinese economic output slowed in April, although the underlying trend continued to show stability in the world’s second-largest economy. Industrial production, a broad measure of factory output, rose 6.5% in April from a year earlier, the National Bureau of Statistics reported in Beijing. That was down from a multi-year high of 7.6% in March.

Thursday's session was marked by Australian job figures. The latest labour force data released today by the Australian Bureau of Statistics – Labour Force data – for April 2017 shows that while employment rose by 37.4 thousand, full-time employment fell by 11,600 and monthly hours worked fell by 0.12 per cent. Underemployment rose by 0.1 points. The employment growth did outstrip the underlying growth in the population and with the participation rate steady, unemployment fell by 19,100.  The unemployment rate fell by 0.2 points to 5.7%.

 

This week markets will be looking at:

 

Construction Work Done (Wednesday 3:30)

More in this category: « EUR/USD Weekly Forecast – 15 May – 19 May GBP/USD Weekly Forecast – 22 May – 26 May »

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