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

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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.

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