"Australia's key economic metrics—including GDP growth and unemployment—will continue to outperform most developed economy peers," says Marie Diron, a Moody's Senior Vice President for the Sovereign Risk Group. "However, government debt will rise from around 35% of GDP for the fiscal year ended 30 June 2015 to 38% of GDP in the fiscal year ended 30 June 2018, which will limit the government's room to buffer against potential negative shocks through fiscal easing," adds Diron.
In the US session Existing Home Sales figures were released. Bolstered by big gains in the Northeast and Midwest, existing-home sales bounced back in March and remained slightly up from a year ago, according to the National Association of Realtors. Total existing-home sales jumped 5.1% to a seasonally adjusted annual rate of 5.33 million in March from a downwardly revised 5.07 million in February. Sales rose in all four major regions last month and are up modestly from March 2015.
There will be no major data releases from Australia tomorrow. In the US session Unemployment Claims and Philly Fed Manufacturing Index figures will be released. Analysts predict increase to 265,00 in Unemployment Claims and fall to 8.1 points in Philly Fed Manufacturing Index.
Figures to watch:
Unemployment Claims (Thursday 14:30)
Philly Fed Manufacturing Index (Thursday 14:30)
