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AUD/USD Daily Forecast – 30 August

Tuesday, Aug 29 2017
AUD/USD Daily Forecast – 30 August

From Australia, yesterday, Home Sales data was published. Australian new home sales tumbled to a four-year low in July, driven by a sharp decline in apartment sales. According to the Housing Industry Association (HIA), total sales fell by 3.7%, adding to the 6.9% fall recorded in June and now sit at the lowest level since August 2013. The HIA said the decline was driven by a large 15.7% slide in apartment sales, another sign that attempts to limit investor activity in Australia’s housing market from regulators may be starting to bite.

In the US session CB Consumer Confidence figures were released. The Conference Board Consumer Confidence Index®, which had increased in July, improved further in August. The Index now stands at 122.9 (1985=100), up from 120.0 in July. The Present Situation Index increased from 145.4 to 151.2, while the Expectations Index rose marginally from 103.0 last month to 104.0.

 

Tomorrow's session will bring Australian Building Approvals figures. Decline by 5.1% is anticipated. In the US session ADP job figures and Prelim GDP data will be published. GDP is expected to grow by 2.7%, while ADP employment should increase by 186,000.

 

Figures to watch:

 

Building Approvals (Wednesday 3:30)          

ADP Non-Farm Employment Change (Wednesday 14:15)

Prelim GDP (Wednesday 14:30)

More in this category: « EUR/USD Daily Forecast – 29 August GBP/USD Daily Forecast – 30 August »

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