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CB Leading Index for Australia decreased by 0.1%

Thursday, Dec 24 2015
The Conference Board LEI for Australia declined slightly in October, with large negative contributions from the sales to inventories ratio component and rural goods exports more than offsetting the positive contribution from share prices. Between April and October 2015, the leading economic index decreased 1.3 percent (about a ˗2.7 percent annual rate), a reversal from the growth of 1.1 percent (about a 2.2 percent annual rate) over the previous six months. The strengths among the leading indicators remain slightly more widespread than the weaknesses. 
 With the 0.1 percent decrease in October, The Conference Board LEI for Australia now stands at 102.5 (2010=100).  Based on revised data, this index declined 0.3 percent in September and declined 0.6 percent in August. During the six-month period through October, the leading economic index decreased 1.3 percent, and four of the seven components increased (diffusion index, six-month span equals 57.1 percent). 
 
Aussie is currently being traded around 0.7260 area. Pair is likely to find support around 0.72 handle and resistance above 0.7280 level. Later today, in the US session, Unemployment Claims figures are scheduled for a release.
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