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AUD/USD Weekly Forecast – 29 May – 02 June

Saturday, May 27 2017
AUD/USD Weekly Forecast – 29 May – 02 June

Events that marked the week:

From Australia, on Wednesday, Construction Work Done data was published. The trend estimate for total construction work done fell 0.6% in the March quarter 2017. The seasonally adjusted estimate for total construction work done fell 0.7% to $46,416.9m in the March quarter. The trend estimate for total building work done fell 1.1% in the March quarter. The trend estimate for non-residential building work was flat and residential building work fell 1.7%.

There were no major data releases from Australia in the rest of the week, with focus on commodity prices. The Canadian, Australian and New Zealand dollars all fell solidly on Thursday, tracking a drop in oil prices as OPEC countries meeting in Vienna looked like they would go no further with production cuts than previously expected by markets. The U.S. dollar, which has steadied after its worst week in more than a year, fell 0.1 percent against the index measuring its broader strength while gaining marginally to 111.75 yen and $1.1213 per euro respectively.

 

This week markets will be looking at:

 

Building Approvals (Tuesday 3:30)

Manufacturing PMI/Non-Manufacturing PMI (Wednesday 3:00)

Private Capital Expenditure (Thursday 3:30)

Retail Sales (Thursday 3:30)

More in this category: « EUR/USD Weekly Forecast – 22 May – 26 May GBP/USD Weekly Forecast – 29 May – 02 June »

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