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AUD/USD Weekly Forecast – 31 July – 04 August

Friday, Jul 28 2017
AUD/USD Weekly Forecast – 31 July – 04 August

Events that marked the week:

Focus of Wednesday's session was on Australian CPI figures. Australian CPI rose 0.2% this quarter, compared with a rise of 0.5% in the March quarter 2017. It rose 1.9% over the twelve months to the June quarter 2017, compared with a rise of 2.1% over the twelve months to the March quarter 2017. The most significant price rises this quarter are medical and hospital services (+4.1%), new dwelling purchase by owner-occupiers (+0.9%), tobacco (+1.0%) and beer (+1.0%). The most significant offsetting price falls this quarter are domestic holiday travel and accommodation (-3.2%), automotive fuel (-2.5%) and fruit (-4.4%).

Friday brought Australian PPI figures. Australian PPI rose 0.5% in the June quarter 2017. The raise mainly due to rises in the prices received for Heavy and civil engineering construction (+0.9%), Building construction (+0.8%) and Other agriculture (+7.4%). This was partly offset by falls in the prices received for Petroleum refining and petroleum fuel manufacturing (-4.8%), Accommodation (-2.4%) and Commercial fishing (-7.6%). PPI rose 1.7% through the year to the June quarter 2017.

 

This week markets will be looking at:

 

China's Manufacturing PMI (Monday 3:00)

Cash Rate/RBA Statement (Tuesday 6:30)

Building Approvals (Wednesday 3:30)

Trade Balance (Thursday 3:30)

Retail Sales (Friday 3:30)

More in this category: « EUR/USD Weekly Forecast – 24 July – 28 July GBP/USD Weekly Forecast – 31 July – 04 August »

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