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AUD/USD Daily Forecast – 11 September

Friday, Sep 08 2017
AUD/USD Daily Forecast – 11 September

From Australia on Friday, Home Loans figures were released, while from China Trade Balance data was published. According to the Australian Bureau of Statistics (ABS), housing finance fell by 0.9% to $33.027 billion in July in seasonally adjusted terms, led by a steep decline in investor lending which slumped 3.9% to $12.063 billion, the lowest level since August 2016. In terms of actual loans, they increased by 2.9% to 56,464 in seasonally adjusted terms, well above the 1% lift that had been expected by economists. Within that figure, owner-occupier loans to buy an established dwelling rose by 2.9% to 46,939, explaining most of the lift in the headline figure. China August trade surplus came-in at CNY 286.5 billion, missing the estimate of CNY 337 billion. The previous figure was CNY 321.20 billion. Exports printed at +6.9% y/y, expected 8.7%, prior was 11.2%. Imports printed at +14.4% y/y, expected 11.7%, prior was 14.7%. Iron ore imports +6.7% y/y. Crude oil imports +12.2% y/y. Natural gas imports +25.5% y/y. Steel product exports -28.5% y/y. There will be no major data releases both from Australia and USA on Monday so we expect a bit less volatile session.

More in this category: « EUR/USD Daily Forecast – 08 September GBP/USD Daily Forecast – 11 September »

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