• Minimal events this week with RBA gov speech and US Manufacturing/Services PMI headlining.
• US Manufacturing PMI expected @ 52.7 (prev 52.9) & services @ 53.0 (prev 52.9).
• AUDUSD to continue consolidating with bullish bias, pivoting between 0.6443 – 0.6576.
• AUDUSD expected to remain around 65c this week with minimal AU & US events to impact markets.
• AUDUSD will largely be influenced by US tariff news.
• RBA Gov Bullock is due to speak on Thursday at the Anika Foundation where she will cover numerous economic issues, and the key theme will be rate cuts.
• US Manufacturing PMI is expected @ 52.7 (prev 52.9) and Services PMI expected @ 53.0 (prev 52.9).
• US trade deals remain to be a key theme. Apart from China (who have a longer deadline), the more important tariff deals involve EU & Japan.
• Given the low impact events this week, we may not see high volatility this week, so the range will be minimal.
• Watch out this week for unexpected moves!
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Economic Calendar: Mon 21st July 2025 – Friday 25th July 2025 (High Impact) (AU/US) Day Time(AEST) Event Country Forecast Previous Thur 1:05pm RBA Gov Bullock Speaks AU N/A N/A 10:30pm Unemployment Claims US 229K 221K 11:45pm Flash Manufacturing PMI US 52.7 52.9 Flash Services PMI US 53.0 52.9 Source: forexfactory.com