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Earlier today Forex Pros put out a list of significant events likely to affect AUD/USD. Below is their prediction for what the next five days will bring:
Monday, March 1
The Housing Industry Association will release its New Home Sales report, a leading indicator of Australia’s economic health. Australia’s statistics agency will also publish the country’s trade balance.
Later Monday, the Institute for Supply Management will publish its manufacturing PMI for the U.S.
Tuesday, March 2
Australia will release monthly data on retail sales and the number of new building approvals issued. The Reserve Bank of Australia will then announce the cash rate and deliver the accompanying rate statement.
Also Tuesday, Autodata Corp. will publish monthly data on the number of cars and trucks sold in the United States in its Total Vehicle Sales report.
Wednesday, March 3
Australia will announce its GDP, the broadest measure of economic activity and the primary gauge of the economy’s health.
Two key reports will then be released in the U.S.: The ISM non-manufacturing PMI and ADP’s non-farm employment change. The latter data on the U.S. job market provides a key indicator of consumer spending, which accounts for the majority of overall economic activity.
Thursday, March 4
Australia will announce its trade balance, the difference in value between imported and exported goods and services during the reported month.
The U.S. will publish key reports on unemployment claims and pending home sales.
Friday, March 5
The U.S. will close the week with important reports on non-farm employment change and the unemployment rate, both of which point to the state of the country’s overall economic health.
