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AUD to USD Forecast: Impacts of Australian Profits and Building Approvals

From fxempire.com

The AUD/USD rose by 0.38% on Friday. Following a 0.03% gain on Thursday, the Australian dollar ended the session at $0.65220. The Australian dollar fell to a low of $0.64895 before rising to a high of $0.65339. On Monday, company gross profits and building approval data will warrant investor attention. Economists forecast company gross profits to increase by 1.8% quarter-on-quarter in Q4 compared with a 1.3% decline in Q3. A recovery in corporate profits would signal a pickup in consumer spending in Q4. Consumer spending can drive corporate profits. An improving business environment may also signal an upward trend in ... (full story)

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  • Category: Technical Analysis