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AUD/USD Daily Forecast - 4 July

Tuesday, Jul 03 2018
AUD/USD Daily Forecast - 4 July

From Australia, yesterday, RBA interest rate decision was released. The Reserve Bank of Australia left rates on hold as widely expected and emphasized the uncertain outlook. Inflation is below target, private investment is soft, and domestic demand is weak. There are well-known international sources of uncertainty too like trade, and the outlook for the Chinese economy. The low level of interest rates is continuing to support the Australian economy.

In the US session, Factory Orders figures were released. New orders for U.S.-made goods unexpectedly rose in May, pointing to a strengthening manufacturing sector, but business spending on equipment continued to show signs of slowing. Factory goods orders increased 0.4 percent amid strong demand for machinery, the Commerce Department said on Tuesday. Data for April was revised up to show orders falling 0.4 percent instead of the previously reported 0.8 percent decrease.

Tomorrow’s session will be marked by Australian Retail Sales and Trade Balance figures. Analysts predict 0.3% increase in Retail Sales and increase in trade balance surplus to $1.21 billion. There will be no data releases in the US part of the session.

Figures to watch:

Trade Balance (Wednesday 2:30)

Retail Sales (Wednesday 2:30)

More in this category: « EUR/USD Daily Forecast - 3 July GBP/USD Daily Forecast - 4 July »

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