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AUD/USD Weekly Forecast - 28 March – 01 April

Friday, Mar 25 2016

Events that marked the week:

From Australia, on Tuesday, only, house price index figures were released.The price index for residential properties for the weighted average of the eight capital cities rose 0.2% in the December quarter 2015. Analysts were anticipating increase by 0.1%. The index rose 8.7% through the year to the December quarter 2015. The total value of residential dwellings in Australia was $5,885,967.2m at the end of December quarter 2015, rising $31,557.1m over the quarter. The mean price of residential dwellings rose $800 to $612,100 and the number of residential dwellings rose by 38,700 to 9,615,800 in the December quarter 2015.

There were no other major data releases from Australia during the week. ANZ forecasts the RBA is on hold for the rest of this year and through 2017. According to ANZ economy is on firmer footing. Global risks are dissipating, while domestic economy is likely to continue to be a slow grind. ANZ had previously been looking for two further cuts this year."While the strength in business conditions is encouraging, retail sales have softened, housing activity - while still solid - is unlikely to be a significant contributor to growth this year, and the outlook for non-mining investment remains disappointing. Further inroads into the unemployment rate are likely to be hard won."

 

This week markets will be looking at:

 

China's Manufacturing PMI (Friday 2:00)

Caixin Manufacturing PMI (Friday 2:45)

More in this category: « EUR/USD Weekly Forecast - 21 March – 25 March GBP/USD Weekly Forecast - 28 March – 01 April »

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