• Few key events this week leading up to Xmas/NY; however nothing of material impact to price.
• The Aussie/US had a stellar week last week, gaining 1.5cents now sitting at 67c.
• Could expect to see the USD recover some of the losses, as volatility/liquidity thins.
• AU Monetary Policy minutes are released this week and will give us further insights into the RBA’s thoughts on potential further rate hikes. With the US markets calling for 3-rate CUTS next year, it will be interesting to see the RBA’s forward guidance.
• US PCE inflation will also be another headliner this week, albeit not market-moving. The number is likely to be soft.
• The AUD/USD is likely to return back some of its gains from last week, so we expect to see potential USD strength.
• The Aussie also failed to break the 67c mark clearly, therefore highlighting a strong resistance level.
• This is our last edition of the Weekly Currency Outlook for 2023. We wish all our clients a Merry Christmas & Happy New Year in advance and looking forward to working with you in 2024.
| Economic Calendar: Mon 18th December 2023 – Fri 22nd December 2023 (High Impact) (AU/US) | |||||
| Day | Time (AEDT) | Event | Country | Forecast | Previous |
| Tues | 11:30am | Monetary Policy Meeting Minutes | AU | N/A | N/A |
| Thur | 2:00am | CB Consumer Confidence | US | 104.1 | 102.0 |
| Fri | 12:30am | Final GDP q/q | US | 5.2% | 5.2% |
| Unemployment Claims | US | 215K | 202K | ||
| Sat | 12:30am | Core PCE Price Index m/m | US | 0.2% | 0.2% |
| 2:00am | Revised UoM Consumer Sentiment | US | 69.5 | 69.4 | |
Source: forexfactory.com