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AUD/USD Weekly Forecast – 05 June – 09 June

Sunday, Jun 04 2017
AUD/USD Weekly Forecast – 05 June – 09 June

Events that marked the week:

From Australia, on Tuesday, Building Approvals figures were published. The trend estimate for total dwellings approved rose 0.1% in April and has risen for three months. The seasonally adjusted estimate for total dwellings approved rose 4.4% in April following a fall of 10.3% in the previous month. The trend estimate for private sector houses approved fell 0.2% in April and has fallen for 13 months. The seasonally adjusted estimate for private sector houses rose 0.5% in April following a fall of 2.7% in the previous month.

Thursday brought Australian Retail Sales and Private Capital Expenditure figures. The trend estimate rose 0.1% in April 2017. This follows a rise of 0.1% in March 2017 and a rise of 0.1% in February 2017. The seasonally adjusted estimate rose 1.0% in April 2017. This follows a fall of 0.2% in March 2017 and a relatively unchanged February 2017 (0.0%). In trend terms, Australian turnover rose 2.7% in April 2017 compared with April 2016. The following industries rose in trend terms in April 2017: Food retailing (0.2%), Other retailing (0.4%), Cafes, restaurants and takeaway food services (0.2%), and Department Stores (0.4%). Clothing, footwear and personal accessory retailing (-0.4%), and Household goods retailing (-0.1%) fell in trend terms in April 2017.

 

Separate report on Private Capital Expenditure showed that the trend volume estimate for total new capital expenditure fell by 0.6% in the March quarter 2017 while the seasonally adjusted estimate rose by 0.3%. The trend volume estimate for buildings and structures fell by 0.2% in the March quarter 2017 while the seasonally adjusted estimate rose by 0.7%.The trend volume estimate for equipment, plant and machinery fell by 1.0% in the March quarter 2017 while the seasonally adjusted estimate fell by 0.1%.

 

This week markets will be looking at:

 

Cash Rate/RBA Statement (Tuesday 6:30)

GDP (Wednesday 3:30)

Trade Balance (Thursday 3:30)

More in this category: « EUR/USD Weekly Forecast – 29 May – 02 June GBP/USD Weekly Forecast – 05 June – 09 June »

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