AUD/USD Fundamental Analysis – August 19, 2015 – Forecast

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Published: Aug 18, 2015, 04:00 UTC

Analysis and Recommendation: The AUD/USD rebounded 5 points on Tuesday morning after RBA minutes were a bit more positive than originally expected. The

AUD/USD Fundamental Analysis – August 19, 2015 – Forecast

Analysis and Recommendation:

The AUD/USD rebounded 5 points on Tuesday morning after RBA minutes were a bit more positive than originally expected. The Aussie is trading at 0.7378. As the dollar goes down, the fortunes of the Australian tourism industry are going up.

Commonwealth Bank economist Gareth Aird says the tumbling Australian currency is enticing tourists from home and abroad, helping the economy to rebalance and stimulate growth in non-mining sectors. He says the Aussie has fallen by around a quarter of its value against the greenback since mid-2014.

The Australian dollar has firmed as the dust appears to settle on China’s currency devaluation drama.

China increased the value for its currency against the US dollar slightly on Friday, following three days of aggressive devaluations earlier in the week that sent global financial markets tumbling.

There was some temporary volatility in the Aussie during a speech by Reserve Bank assistant governor for economics Christopher Kent, who said unemployment had peaked early, thanks largely to the glacial pace of wage growth.

Mr Tjahja said next week markets will focus on US inflation data and the minutes of the RBA’s August meeting to search for any clues on upcoming interest rate decisions from the US and Australian central banks.

FxEmpire provides in-depth analysis for each currency and commodity we review. 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 in our weekly reports.

Today’s economic releases:

Cur.	Event	Actual	Forecast	Previous
USD	TIC Net Long-Term Transactions (Jun)	103.1B	23.0B	93.0B
AUD	Monetary Policy Meeting Minutes

Upcoming Economic Events that you should be monitoring:

Wednesday, August 19, 2015

Cur.	Event	Actual	Forecast	Previous
USD	API Weekly Crude Oil Stock			-0.847M
NZD	PPI Input (QoQ) (Q2)			-1.1%
JPY	Exports (YoY) (Jul)		5.5%	9.5%
JPY	Trade Balance (Jul)		-57B	-69B
USD	Core CPI (YoY) (Jul)		1.8%	1.8%
USD	Core CPI (MoM) (Jul)		0.2%	0.2%
USD	CPI (MoM) (Jul)		0.2%	0.3%
RUB	Unemployment Rate (Jul)		5.5%	5.4%
USD	Crude Oil Inventories			-1.682M