AUD/USD Weekly Forecast – 18 July – 22 Jul

Events that marked the week:

From Australia, on Monday, Home Loans figures were released. The trend estimate for the total value of dwelling finance commitments excluding alterations and additions fell 0.4%. Owner occupied housing commitments fell 0.6%, and investment housing commitments fell 0.1%. In seasonally adjusted terms, the total value of dwelling finance commitments excluding alterations and additions rose 1.0%. In trend terms, the number of commitments for owner occupied housing finance fell 0.2% in May 2016.

USD - Major events in the week ahead

Events that marked the week:

Thursday was marked by PPI and Unemployment Claims figures. The Producer Price Index for final demand increased 0.5 percent in June, seasonally adjusted, the U.S. Bureau of Labor Statistics reported today. Final demand prices rose 0.4% in May and 0.2% in April. On an unadjusted basis, the final demand index advanced 0.3% for the 12 months ended in June, the largest 12-month increase since moving up 0.9% in December 2014.

AUD/USD Weekly Forecast – 11 July – 15 July

Aussie went back and forth in the course of the last week, with resistance above 0.75 handle, but managed to remained stable above 0.74 handle, which is of course a bullish sign, taking in consideration how markets are being volatile after Brexit referendum. Next week, we would pay attention to China's GDP and Industrial Production figures. Pair is likely to find support around 0.74 and 0.7350 handle in extension, while resistive candles above 0.7550 and 0.7630 handle would be short-term selling signal.

EUR/USD Weekly Forecast – 11 July – 15 July

Events that marked the week:

From Eurozone, on Monday, Spanish Unemployment Change figures were released. The number of unemployed people in Spain fell by the most in almost two years in May, fueling optimism over the health of the euro zone’s fourth largest economy, official data showed on Monday. In a report, Spain’s Employment Ministry said the number of unemployed people declined by a seasonally adjusted 124,300 last month, compared to expectations for a drop of 74,300. The number of unemployed people fell by 119,800 in May.