WEEKLY CURRENCY OUTLOOK

• RBA announcement, Wage Price Index & AU employment are the key headliners this week for AU!
• RBA expected to DROP to 4.1% (-0.25%), WPI expected the same, and AU unemployment rate to 4.1%.
• AUDUSD expected to strengthen on AU data, pivoting between 0.6267 & 0.6403.

• It is widely expected for the RBA to begin its monetary policy easing cycle today with a 25bp cut to 4.10%.

• AUDUSD is unlikely to change if the above occurs; however, no change could cause the AUD to shoot higher.

• We also have AU employment, which could see a slight increase in the unemployment rate from 4% to 4.1% (-ve for AUD) with a lower-than-usual employment change (-ve for AUD).

• The US market is fairly quiet this week, with a bank holiday on Tuesday and FOMC minutes being released on Thursday (unlikely to impact markets significantly).

• Trump’s actions are still causing tremors in the global markets, but we have yet to see the full effects of his decisions.

• Hoping for some positivity for the AUD from today!

Economic Calendar: Mon 17th February 2025 – Fri 21st February 2025 (High Impact) (AU/US)
Day Time (AEDT) Event Country Forecast Previous
Tues All day Bank Holiday US N/A N/A
  2:30pm Cash Rate / Statement AU 4.10% 4.35%
Wed 11:30am Wage Price Index q/q AU 0.8% 0.8%
Thur 6:00am FOMC Meeting Minutes US N/A N/A
  11:30am Employment Change AU 19.7K 56.3K
    Unemployment Rate AU 4.1% 4.0%
Fri 12:30am Unemployment Claims US 214K 213K
  9:30am RBA Gov Bullock Speaks AU N/A N/A
Sat 1:45am Flash Manufacturing PMI US 51.2 51.2
    Flash Manufacturing PMI US 53.2 52.9

Source: forexfactory.com

 

CurrenCWEEKLY CURRENCY OUTLOOK