Focus of yesterday's session was on Australian job data. Australian employers recorded the biggest back-to-back monthly job gains in almost 28 years, sending the currency soaring by almost a U.S. cent while renewing doubts about the veracity of the data. Employment rose 71,400 from October; economists forecast 10,000 drop. Jobless rate dropped to 5.8% from 5.9%; economists predicted 6%. Full-time jobs rose by 41,600; part-time employment increased by 29,700. Participation rate, a measure of labor force in proportion to the population, rose to 65.3%; economists predicted 65%.
There will be no major data releases from Australia tomorrow, so we can expect steadier morning part of the session. In the US session Retail Sales, PPI and Consumer Sentiment figures are scheduled for a release. Analysts are predicting 0.2% increase in Retail Sales, while PPI should remain unchanged. Consumer Sentiment is expected to edge slightly higher to 92.3 points.
Figures to watch:
Retail Sales (Friday 14:30)
PPI (Friday 14:30)
Prelim UoM Consumer Sentiment (Friday 16:00)
UK still likely to leave the EU with a negotiated agreement, says Number 10
Sentix Investors Confidence rose to 14.7 in August
German factory orders -4.0% seasonally adjusted on the previous month
China's July exports growth still seen holding up despite U.S. tariffs: Reuters poll
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