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AUD/USD Weekly Forecast – 08 January – 12 January

Saturday, Jan 06 2018
AUD/USD Weekly Forecast – 08 January – 12 January

Events that marked the week:

There were no data releases from Australia on Tuesday, but from China Manufacturing PMI figures were released. The Caixin China General Manufacturing Purchasing Managers’ Index rose to 51.5 in December, the highest since August. Stronger increases in both output and new orders were seen in December compared to the previous month. Growth in input prices eased to a four-month low, while growth in output prices slowed marginally. Stocks of finished goods shrank again in December, and stocks of purchases declined slightly.

Friday's session was marked by Australian Trade Balance data. In trend terms, the balance on goods and services was a deficit of $194m in November 2017, a turnaround of $296m on the surplus in October 2017. In seasonally adjusted terms, the balance on goods and services was a deficit of $628m in November 2017, an increase of $326m on the deficit in October 2017. In seasonally adjusted terms, goods and services credits rose $141m to $31,853m. Non-rural goods rose $394m (2%) and rural goods rose $25m (1%). Non-monetary gold fell $425m (23%). In seasonally adjusted terms, goods and services debits rose $467m (1%) to $32,481m.

 

This week markets will be looking at:

 

Building Approvals (Tuesday 1:30)

China CPI/PPI (Wednesday 2:30)

Retail Sales (Thursday 1:30)

More in this category: « EUR/USD Weekly Forecast – 01 January – 05 January GBP/USD Weekly Forecast – 08 January – 12 January »

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