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AUD/USD Daily Forecast – 03 August

Wednesday, Aug 02 2017
AUD/USD Daily Forecast – 03 August

Yesterday's session brought Australian Building Approvals figures. The trend estimate for total dwellings approved rose 0.1% in June after falling for three months. The seasonally adjusted estimate for total dwellings approved rose 10.9% in June following a fall of 5.4% in the previous month. The trend estimate for private sector houses approved rose 0.8% in June and has risen for four months. The seasonally adjusted estimate for private sector houses rose 3.4% in June and has risen for three months.

In the US session, ADP Employment Change data was released.  Private sector employment increased by 178,000 jobs from June to July according to the July ADP National Employment Report. “Job gains continued to be strong in the month of July,” said Ahu Yildirmaz, vice president and co-head of the ADP Research Institute. “However, as the labor market tightens employers may find it more difficult to recruit qualified workers.”

 

From Australia, tomorrow, Trade Balance figures will be released. Analysts predict narrowing in surplus to $1.78 billion. In the US session Unemployment Claims and Non-Manufacturing PMI figures will be published. Unemployment Claims are expected to decrease to 242,000, while Non-Manufacturing PMI should fall to 56.9.

 

Figures to watch:

 

Trade Balance (Thursday 3:30)

Unemployment Claims (Thursday 14:30)

ISM Non-Manufacturing PMI (Thursday 16:00)

More in this category: « EUR/USD Daily Forecast – 02 August GBP/USD Daily Forecast – 03 August »

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