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AUD/USD Weekly Forecast - 21 May - 25 May

Saturday, May 19 2018
AUD/USD Weekly Forecast - 21 May - 25 May

AUD/USD closed another week on the downside but managed to stabilize. Australian retail sales disappointed by remaining flat and home loans fell more than expected. However, the NAB Business Confidence increase from 8 to 10 points. The bigger driver was the US Dollar, which initially raged on, but eventually dropped after weak US inflation was the last straw in the camel’s back. This pulled the Aussie out of the abyss.

Major events in the coming week:

  1. CB Leading Index: Monday, 14:30. The Conference Board’s Leading Index showed a rise of 0.3% in the Australian economy in February. The indicator, made out of 7 figures, will likely edge up again in March.
  2. MI Leading Index: Wednesday, 00:30. The Melbourne Institute’s composite index is made out of 9 figures and it showed a drop of 0.2% in March. We may see a rise in April.
  3. Construction Work Done: Wednesday, 1:30. This quarterly measure is quite volatile: it fell by 19.4% in Q4 2017. This time, a modest rise of 1.3% is on the cards for Q1 2018.
  4. Phillip Lowe talks Wednesday, 20:00. The Governor of the Reserve Bank of Australia will deliver a speech at the Australia-China Relations Institute in Sydney. He may provide market moving comments if he talks about the state of the Chinese and Australian economies.
  5. Michele Bullock speaks Friday, 12:00. The RBA Assistant Governor Michele Bullock will give a speech in Amsterdam and will also answer questions. She may lay out a more global vision.

(All times are GMT)

More in this category: « EUR/USD Weekly Forecast - 21 May - 25 May EUR/USD Weekly Forecast - 28 May - 1 June »

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