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AUD/USD Weekly Forecast - 9 April - 13 April

Saturday, Apr 14 2018
AUD/USD Weekly Forecast - 9 April - 13 April

The Australian dollar closed lower for the fourth week in a row but did not record new lows for a change. The Reserve Bank of Australia left the interest rate unchanged once again and did not indicate any change. Most Australian figures such as the trade balance and retail sales came out above expectations. However, China, Australia’s main trade partner is expecting slightly weaker growth according to the forward-looking PMI figures.

Major events in the coming week:

  1. AIG Construction Index: Sunday, 22:30. The Australian Industry Group showed solid growth in the construction sector with 56 points in February. The figure for March will likely be similar.
  2. NAB Business Confidence: Tuesday, 1:30. This 350-strong survey by the National Australia Bank dropped to 9 points in February. The report for March may see a small rise.
  3. Westpac Consumer Sentiment: Wednesday, 00:30.
  4. Phillip Lowe talks: Wednesday, 5:05. The Governor of the RBA will speak at the Australia-Israel Chamber of Commerce in Perth. He may shed some light on future moves by the RBA.
  5. MI Inflation Expectations: Thursday, 1:00. This inflation gauge by the Melbourne Institute fills in the gap that the government leaves by publishing the CPI report only once per quarter.
  6. Home Loans: Thursday, 1:30. Loans for purchasing homes disappointed in the past two months with significant falls. After a drop of 1.1% in January, the figure for February is projected to result in yet another slide: 0.3%.
  7. RBA Financial Stability Review: Friday, 1:30. The twice-a-year report on financial stability by RBA.

(All times are GMT)

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