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AUD/USD Weekly Forecast – 25 December – 29 December

Saturday, Dec 23 2017
AUD/USD Weekly Forecast – 25 December – 29 December

Events that marked the week:

From Australia, on Monday, New Motor Vehicle Sales figures were released. The November 2017 trend estimate  for new motor vehicle sales (98,690) decreased by 0.3% when compared with October 2017. On a seasonally adjusted basis prices rose by 0.1%. When comparing national trend estimates for November 2017 with October 2017, sales for Other vehicles increased by 0.4%. By contrast, Passenger vehicles and Sports utility vehicles decreased by 0.8% and 0.4% respectively. The largest downward movement across all states and territories, on a trend basis, was in the Northern Territory (-2.5%).

Focus of the Tuesday's session was on RBA Minutes. The Reserve Bank of Australia expressed ore confidence in the economy in the release of the minuts from the December policy review on Tuesday. The RBA held its cash rate at a record low 1.50% at the meeting. Growth in employment, particularly full-time employment, had increased and the unemployment rate had fallen to a four-year low. Taking account of the available information, the Board judged that holding the stance of monetary policy unchanged at this meeting would be consistent with sustainable growth in the economy and achieving the inflation target over time.

 

There will be no data releases from Australia next week.

More in this category: « EUR/USD Weekly Forecast – 18 December – 22 December GBP/USD Weekly Forecast – 25 December – 29 December »

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