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AUD/USD Daily Forecast – 10 August

Wednesday, Aug 09 2017
AUD/USD Daily Forecast – 10 August

Yesterday, from Australia, Home Loans figures were released, while from China CPI and PPI data was published. The trend estimate for the total value of dwelling finance commitments excluding alterations and additions was flat. Owner occupied housing commitments rose 0.5% while investment housing commitments fell 0.9%. In seasonally adjusted terms, the total value of dwelling finance commitments excluding alterations and additions rose 0.8%.

Chinese consumer inflation weakened slightly in July, while producer prices expanded at a steady pace, government data revealed Wednesday. The July consumer price index (CPI) advanced 1.4% from a year earlier, slightly below the previous month’s gain of 1.5%, the National Bureau of Statistics said in a report. Analysts in a median estimate called for a 1.5% increase.

 

China’s July producer inflation rose from a year earlier for the 11th straight month, official data showed. The producer price index (PPI) rose 5.5% in July, unchanged from the previous month. Recovering PPI-inflation has largely driven China’s stronger than expected growth in recent quarters. Gross domestic product (GDP) expanded 6.9% annually in the June quarter.

 

There will be no major data releases from Australia tomorrow. In the US session PPI and Unemployment Claims figures will be published. Analysts anticipate increase by 0.1% in PPI, while Unemployment Claims should remain unchanged at 240,000.

 

Figures to watch:

 

PPI (Thursday 14:30)

Unemployment Claims (Thursday 14:30)

More in this category: « EUR/USD Daily Forecast – 09 August GBP/USD Daily Forecast – 10 August »

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