Analysis and Recommendation: The AUD/USD gained 17 points after the release of 3rd quarter inflation which climbed higher than expected but well within
The AUD/USD gained 17 points after the release of 3rd quarter inflation which climbed higher than expected but well within expected levels. Inflation rose to 0.5% against expectations of 0.4%. This morning data showed that Australian CPI fell to 2.3% y/y in 3Q from 3.0% y/y in 2Q as expected. Quarterly Inflation Gain outperformed but the Australian Dollar remained little changed as inline CPI leaves RBA views intact. The Australian Dollar had another rollercoaster week against its peers as shifts in global risk sentiment swung the high-yielding currency wildly during intraday trade. Meanwhile, medium-tier regional economic data saw a lackluster response from the AUD amid well-anchored RBA policy bets.
The AUD momentarily dipped lower after the figures crossed the wires but the move would not prove lasting. Although inflation dropped from the second quarter, the as-expected result offered traders no impetus to adjust their RBA policy bets and thereby offered no meaningful direction cues for the exchange rate.
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 actual vs. forecast:
Cur. |
Event |
Actual |
Forecast |
Previous |
|||
|
JPY |
Adjusted Trade Balance |
-1.07T |
-0.91T |
-0.91T |
||
|
JPY |
Exports (YoY) (Aug) |
6.9% |
6.8% |
-1.3% |
|
|
|
JPY |
Trade Balance (Sep) |
-958B |
-777B |
-949B |
|
|
|
AUD |
CPI (QoQ) (Q3) |
0.5% |
0.4% |
0.5% |
|
|
|
AUD |
CPI (YoY) (Q3) |
2.3% |
2.3% |
3.0% |
|
|
|
AUD |
Trimmed Mean CPI |
0.4% |
0.5% |
0.8% |
Upcoming Economic Events that you should be monitoring:
Cur. |
Event |
Actual |
Forecast |
Previous |
|||
|
AUD |
RBA Governor Stevens |
|
|
|
|
|
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NZD |
CPI (QoQ) (Q2) |
|
0.5% |
0.3% |
|
|
|
CNY |
HSBC Mfg. PMI |
|
50.2 |
50.2 |
|
|
|
EUR |
German Mfg PMI |
|
49.5 |
49.9 |
|
|
|
EUR |
German Services PMI |
|
55.0 |
55.7 |
|
|
|
EUR |
Manufacturing PMI |
|
49.9 |
50.3 |
|
|
|
EUR |
Services PMI (Sep) |
|
52.0 |
52.4 |
|
|
|
GBP |
BBA Mortgage |
|
41.5K |
41.6K |
|
|
|
GBP |
Core Retail Sales (MoM) |
|
-0.2% |
0.2% |
|
|
|
GBP |
Retail Sales (MoM) |
|
-0.1% |
0.4% |
|
|
|
GBP |
CBI Industrial Trends |
|
-4 |
-4 |
|
|
|
USD |
Initial Jobless Claims |
|
282K |
264K |
Government Bond Auction
Date Time Country Auction
Oct 23 11:03 Sweden Sek 1bn 0.5% Jun 2017 I/L bond
Oct 23 17:00 US Announces 2/5/7Y Note & 2Y FRN auctions on Oct 28/29/30
Oct 23 17:30 Italy Announces details of BTPei/CTZ auctions on Oct 28
Oct 23 19:00 US USD 7bn 30Y TIPS auction
Oct 24 17:30 Italy Announces details of BOT auction on Oct 29
Oct 27 12:30 Germany Eur 2.0bn new 12M Bubill (Oct 2015) auction
Oct 27 18:30 Italy Announces details of BTP/CCTeu auctions on Oct 30
Oct 27 12:10 Italy BTPei/CTZ auctions
Oct 28 12:10 Italy BOT auction
Oct 28 19:00 US 2Y Note auction
Oct 29 12:03 Sweden Bond auction
Oct 29 12:30 Germany Eur 4.0bn Aug 2024 Bund auction
Oct 29 17:30 US 2Y FRN auction
Oct 29 19:00 US 5Y Note auction
Oct 30 12:10 Italy BTP/CCTeu auctions
Oct 30 19:00 US 7Y Note auction