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AUD/USD Daily Forecast – 12 July

Tuesday, Jul 11 2017
AUD/USD Daily Forecast – 12 July

From Australia, yesterday, NAB Business Confidence figures were released. Business confidence saw a more modest lift, but is still well above the long-run average for the series, rising to 9 points. Business conditions hit another multi-year high, returning back to around pre-GFC levels in June. The business conditions index rose 4 points, to +15 index points, which is well above the long-run average (+5). Meanwhile, business confidence rose only slightly in June, but despite being less buoyant than business conditions, has held up above long-run average levels.

In the US session JOLTS Job Openings figures were released.The number of job openings  decreased to 5.7 million on the last business day of May, the U.S. Bureau  of Labor Statistics reported today. Over the month, hires increased to 5.5 million and separations increased to 5.3 million. Within separations, the quits rate was little changed at 2.2 percent and the layoffs and discharges rate was unchanged at 1.1 percent. This release includes estimates of the number and rate of job openings, hires, and separations for the nonfarm sector by industry and by four geographic regions.

 

There will be no major data releases from Australia tomorrow. US session will be marked by Janet Yellen's testimony on the Semiannual Monetary Policy Report before the House Financial Services Committee.

 

Figures to watch:

 

Fed Chair Yellen Testifies (Wednesday 16:00)

More in this category: « GBP/USD Daily Forecast – 12 July EUR/USD Daily Forecast – 12 July »

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