For Traders

Analytical Reviews

02.05.201807:58 Forex Analysis & Reviews: "The Australian" does not believe the RBA's forecasts

Long-term review

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

AUD / USD

The main event yesterday for the Australian dollar was the accompanying statement of the RBA during the meeting of the Council on Monetary Policy. As expected, the regulator kept the current policy unchanged but the economic forecast for the coming years was uncertain. The most important is the expected economic growth of 3.0% versus the current 2.4%. Investors preferred to focus on the nearest events, such as sales of new houses (in March -2.0%) and the business activity index in April assessment was 58.3 points against 63.1 in March. At the same time, Australia's trade balance for March will come out, with a forecast of 0.68 billion dollars against 0.83 billion in February. "The Australian" currency is expected to decline by 40 points by the end of the day.

Today, the United States will release data on jobs in the private sector from ADP while the decision of the Federal Reserve on Monetary Policy will be published in the evening. We are expecting the Australian dollar within the range 0.7375 / 85 with a medium-term target of 0.7440.

* The presented market analysis is informative and does not constitute a guide to the transaction.

Back to the list

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.