Australian Private Sector Credit report showed 0.4% rise

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Thursday, Dec 31 2015

This morning from Australia only Private Sector Credit data was released. Report showed 0.4% increase, missing forecasts on 0.6% rise. Also, markets are being closed early this morning as New Year approaches. “Both the Australian and New Zealand dollar have risen strongly overnight in concert with the return of a risk-on theme witnessed in offshore markets,” The Wall Street Journal quoted Simon Fletcher who is a senior credit analyst at National Australia Bank in Sydney.

While it has been a quiet week this week, there is a steady stream of local economic data releases next week starting with December manufacturing figures and the RP Data Core Logic Home Value Index, both of which are due out on Monday.The Australian share market and bond market both close early on Thursday ahead of the New Year’s Day public holiday.

Aussie is currently being traded around 0.73 area. Pair is likely to find support around 0.7280 handle and resistance above 0.7330 level. Later today, in the US session, Unemployment Claims and Chicago PMI figures are scheduled for a release.

More in this category: « Pending Home Sales unexpectedly fell by 0.9% UK Housing Equity Withdrawals increased in Q3 »

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