Local: Fri
Sydney: Fri
Select Destination
Location Time Temp
Sydney Fri20°
Melbourne Fri18°
Brisbane Fri21°
Perth Fri21°
Adelaide Fri
Hobart Fri16°
Canberra Fri18°
Darwin Fri27°

news

Get our help FREE advice or find service providers with our bookJobs Now

Australian Dollar (AUD) Exchange Rate Forecast: RBA Meeting Minutes, Unemployment Data Ahead

15 May 2017 by News Desk

The Australian dollar (AUD) exchange rate could be in for an extremely interesting week, with the release of the Reserve Bank of Australia (RBA) meeting minutes, consumer confidence data, and unemployment rate and employment change stats due out, say currency experts FC Exchange.

Australian Dollar (AUD) Awaiting Labour Market Stats

The pound to Australian dollar (GBP/AUD) exchange rate has made some steady gains in recent months, climbing from lows of around 1.60 in March, to around 1.76 in May. However, if the Reserve Bank of Australia releases dovish meeting minutes, it’s possible the pound could climb higher against its Australian counterpart.

Additionally, this week will see the release of the Westpac consumer confidence number for May, the Australian wage price index, and unemployment rate data. The unemployment rate resided at 5.9% in March and is expected to remain static in April.

Pound Sterling (GBP) Exchange Rate Forecast for Movement on UK Inflation Data

The pound sterling (GBP) exchange rate may experience some significant movement on Tuesday with the release of the UK’s inflation rate number. Year-on-year it’s expected that inflation will rise from 2.3% to 2.6% in April. Markets are keenly watching consumer price developments in order to locate clues regarding the timescale of the Bank of England’s future interest rate rises.

UK labour market data will also make its way onto the scene this week in the form of average weekly earnings, unemployment rate, and employment change numbers.

US Dollar (USD) Exchange Rate Trading Amid Quiet Data Week

The US dollar could be in for a quiet week in terms of data fluctuations with the calendar yielding no high impact ecostats for the week ahead. However, there will be some other data released, such as the NAHB housing market index, building permits, industrial and manufacturing production numbers, mortgage applications, and weekly labour market stats.

Several Federal Reserve officials will also be making statements throughout the week, such as James Bullard on Friday. The following week will see the release of the Federal Open Market Committee (FOMC) meeting minutes which is likely to be of interest to investors hoping for an interest rate rise in the near future.

Euro (EUR) Exchange Rate Expected to Move on ECB Comments

Meanwhile in Europe, the European Central Bank (ECB) has many representatives speaking throughout the week which could impact euro strength. ECB President Mario Draghi will be one of the central bank members making a speech on Friday evening and his comments have previously had a significant impact on euro strength.

Italian and eurozone gross domestic product numbers for Q1 will also be out this week, as well as the latest ZEW German economic sentiment index.

Disclaimer: This economic update is provided by FC Exchange a Global Reach Group Company, industry leaders in foreign exchange. Authorised affiliates are permitted to reuse content.

Learn more about the Australian Dollar – Contact FC Exchange: Get A Quote

Want to live and work Down Under? Click here for expert help: Skilled Migration to Australia

Want to get a job Down Under? Click here for expert help: How to Get a Job in Australia

Click here for expert help with travel visas: Travel Visas to Australia

Click here for tourist information about Australia: Visit Australia



We use cookies on Thinking Australia

This website uses cookies to ensure you get the best experience on our website. Please confirm permission to use cookies.
Cookie Policy Privacy policy