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AUD/USD Forecast 18 May 2016

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AUD/USD Forecast 18 May 2016
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The pair AUD/USD showed the active movement during the previous day.

Yesterday's minutes of the Reserve Bank of Australia made it clear that his intention to reduce the rate will depend on the outgoing data.

Today during the Asian session, the pair has lost all positions. The pair did not react even to positive GDP data for Japan.

Tomorrow, Australia is to publish data on employment. The unemployment is projected to grow by 5.8% against the previous 5.7%.

However, the publication of the minutes of the last meeting of the FOMC will be the main event today. The strong data on the US retail sales, housing market, inflation and industrial production slightly helped the dollar to strengthen. However, the April report can reflect the uncertainty of the Committee members in the stability of economic growth. If it’s so, the chances of the summer rate increasing will disappear.

How to trade

Asset: AUD/USD
Direction: Put
Target price: 0.7270
Close price: 07225
Expiry time: 20:00 GMT

Disclaimer: The article is written for informative purposes only and it is not financial advice. The author does not have any position in the currency pairs mentioned, and no plans to initiate a position. He wrote the article himself and expressed his own opinions. He has no business nor personal relationships with any mentioned government entities or stocks. Readers should not treat any opinion expressed by the author as a specific inducement to make a particular trade or follow a particular strategy, but only as an expression of his opinion.

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