There were no data releases from Australia yesterday. ANZ forecasts the RBA is on hold for the rest of this year and through 2017. According to ANZ economy is on firmer footing. Global risks are dissipating, while domestic economy is likely to continue to be a slow grind. ANZ had previously been looking for two further cuts this year."While the strength in business conditions is encouraging, retail sales have softened, housing activity - while still solid - is unlikely to be a significant contributor to growth this year, and the outlook for non-mining investment remains disappointing. Further inroads into the unemployment rate are likely to be hard won."
There will be no data releases from Australia tomorrow. In the US session Durable Goods Orders and Unemployment Claims figures will be published. Analysts forecast 3% decrease in Durable Goods Orders, while Unemployment Claims should incline to 267,000.
Figures to watch:
Durable Goods Orders (Thursday 14:30)
Unemployment Claims (Thursday 14:30)
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Sentix Investors Confidence rose to 14.7 in August
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