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AUD/USD Daily Forecast - 10 December

Tuesday, Dec 09 2014

From Australia, yesterday, NAB Business Confidence figures were released. Latest NAB Business Confidence survey showed decline from previous month revised level of 5 to 1. This followed no change in October.  Orders held up reasonably well, which reflects well on near-term demand. The fall in conditions was driven by all three components (sales, profits and employment), although the last remains the weakest, pointing to only very modest growth in employment –insufficient to prevent a further rise in the unemployment rate. But while last months spike was relatively broad based, the pull back in November was much more mixed across industries –concentrated in retail, manufacturing and service industries.

 

In the US session JOLTS Job Openings data was released. There were 4.8 million job openings on the last business day of October, little changed from 4.7 million in September, but in line with market expectations.  The job openings rate was 3.3%. The number of job openings was little changed for total private and declined for government in  October, while it decreased for state and local government.

 

We can expect quite eventful morning part of the session, tomorrow. From Australia, Westpac Consumer Sentiment and Home Loans figures are scheduled for a release. Analysts are hoping for an incline i  consumer sentiment, while Home Loans data should show 0.2% raise. Also, Chinese CPI and PPI figures will be released. CPI is expected to remain unchanged at 1.6%, while PPI should fall by 2.3%

 

Figures to watch:

 

Westpac Consumer Sentiment (Wednesday 00:30)

Home Loans (Wednesday 1:30)

Chinese CPI/PPI (Wednesday 2:30)

Last modified on Tuesday, 09 December 2014
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