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AUD/USD Weekly Forecast - 25 June - 29 June

Sunday, Jun 24 2018
AUD/USD Weekly Forecast - 25 June - 29 June

AUD/USD was hit hard alongside stocks as Trump’s new suggested tariffs rocked markets quite hard. After the US had already detailed tariffs on $50B worth of goods on China and the latter announced it would retaliate, the Administration is considering additional duties on no less than $200 billion worth. The news rattled markets and triggered a sharp risk-off atmosphere, sending the Aussie to the lowest levels in over a year. RBA Governor Lowe did not add much in a panel conversation nor via the Meeting Minutes.

This week the Australian calendar is light, leaving room for trade to dominate the scene once again.

Major events in the coming week:

  1. HIA New Home Sales: Timing TBC. The Housing Industry Association reported a sharp drop of 4.2% in sales of new homes in April, the fourth consecutive fall. We could see an increase now.
  2. Private Sector Credit: Friday, 1:30. Credit in the Private Sector rose by 0.4% in April, as expected yet below the level in March. The number for April could be a repeat of May’s figure.

(All times are GMT)

More in this category: « EUR/USD Weekly Forecast - 18 June - 22 June GBP/USD Weekly Forecast - 25 June - 29 June »

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