AUD/USD Fundamental Forecast – September 19, 2016

The AUD/USD dipped 5 points as the greenback remained positive moving into the Fed meeting next week and the possibility of a rate increase this year still remains strong. The Aussie is trading at 0.7515 right in the range set by the RBA.  There is a lack of data today and will leave currencies sitting tight over the weekend. China is on holiday and Japan is out on Monday for local celebrations.  The next big event for the Aussie will be on Tuesday when the RBA releases the minutes from their last meeting along with housing prices.

The greenback avoided major swings after an array of mediocre US economic data lessened the odds the Federal Reserve will hike interest rates next week. Although most Fed watchers did not previously view a September interest rate hike as likely, those chances diminished further after the Commerce Department reported that US retail sales fell 0.3 per cent in August from the prior month.

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Upcoming Economic Events that you should be monitoring:

 September 19, 2016

Government Bond Auctions

Date Time Country Auction

Sep 19 11:00 Belgium Holds OLO auction

Sep 20 11:30 UK Jul 2047 Gilt

Sep 21 10:30 Denmark Holds bond auction

Sep 21 11:03 Sweden Holds bond auction

Sep 21 11:30 Germany Eur 4bn 0% Oct 2021 Bobl

Sep 22 17:20 Italy Announces details of bond auction