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AUD/USD Daily Forecast - 22 December

Thursday, Dec 22 2016
AUD/USD Daily Forecast - 22 December

From Australia, yesterday, only minor importance MI Leading Index figures were released. The six month annualised growth rate in the Westpac-Melbourne Institute Leading Index, which indicates the likely pace of economic activity relative to trend three to nine months into the future, fell from 0.51% in October to 0.11% in November. Westpac’s Chief Economist, Bill Evans, commented, “This marks the fourth consecutive month where the growth rate in the Index is above trend. That followed a period of fifteen consecutive months where the growth rate had been below trend.“

In the US session Existing Home Sales data was published. Total existing-home sales, which are completed transactions that include single-family homes, townhomes, condominiums and co-ops, rose 0.7 percent to a seasonally adjusted annual rate of 5.61 million in November from a downwardly revised 5.57 million in October. November's sales pace is now the highest since February 2007 (5.79 million) and is 15.4 percent higher than a year ago (4.86 million).

 

There will be no major data releases from Australia tomorrow. In the US session Unemployment Claims, Durable Goods Orders and Final GDP figures will be published. Analysts predict no change in Unemployment Claims, 4.9% decrease in Durable Goods Orders and 3.3% growth in GDP.

 

Figures to watch:

 

Durable Goods Orders (Thursday 14:30)

Final GDP (Thursday 14:30)

Unemployment Claims (Thursday 14:30)

More in this category: « EUR/USD Daily Forecast - 21 December GBP/USD Daily Forecast - 22 December »

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