Analysis and Recommendation (AUD/USD forecast):
The AUD/USD dipped 17 points to trade at 0.8065 well above the RBA desired level. US retail sales were flat in April after rising a revised 1.1 percent in March. Economists had expected a 0.2 percent gain in the latest month and the US dollar fell as a result.
“We’re still dealing with a very, very weak US dollar,” Johnson said. “US retail sales didn’t miss their mark by much. Maybe people are looking for evidence that the rebound is underway and we’re not seeing it.”
The AUD sentiment has also improved in line with the RBA’s steady outlook and the iron ore price recovery. Despite cutting interest rates this May the Reserve Bank of Australia still has a fight on its hands – trying to manage a strong Australian dollar.
The US dollar is forecast to remain soft over the course of the coming month by Australia’s Westpac bank who say the currency remains overvalued.
ForexTraq provides in-depth analysis for each currency and commodity we review in forex trading. Fundamental analysis is provided in three components. We provide a detailed monthly analysis and forecast at the beginning of each month. Then we provide more up to the data analysis and information for AUD/USD in our weekly reports.
Today’s economic releases actual vs. forecast:
|JPY||BoJ Governor Kuroda Speaks|
Upcoming Economic Events that you should be monitoring in forex trading for AUD/USD:
Monday, May 18, 2015
|AUD||RBA Assist Gov Lowe Speaks|
|JPY||Industrial Production (MoM)||-0.3%|
|JPY||Tertiary Industry Activity Index||0.3%|
|CHF||Retail Sales (YoY) (Mar)||-2.7%|
Government Bond Auctions
Date Time Country
May 18 09:30 Germany Eur 1.5bn 12M (May 2016) Bubills
May 18 10:00 Belgium Auctions OLOs
May 20 09:03 Sweden Holds bond auction
May 21 08:30 Spain Auctions Bonos
May 21 09:03 Sweden Holds bond exchange auction
May 21 09:10 France Auctions BTANs
May 21 09:30 UK Auctions 4.75% 2030 Conventional Gilt
May 21 10:10 France Auctions
May 21 15:30 Italy Announces details of CTZ/BTPei on 26 May
May 21 15:00 US Announces details of 2-year FRN on 27 May, plus 2/5/7 year
May 21 17:00 US Auctions 10-year TIPs
May 22 09:03 Sweden Holds bond exchange auction
May 22 10:00 Norway Details bond auction on 27 May
AUD/USD analysis forecast
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