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AUD/USD Daily Forecast – 25 October

Tuesday, Oct 24 2017
AUD/USD Daily Forecast – 25 October

There were no data releases from Australia yesterday. China's economy will likely grow 6.8 percent in 2017, topping the state target and accelerating for the first time in seven years, a Reuters poll showed, as Beijing walks a tightrope by containing debt and property risks without stunting economic growth. Still, growth in the world's second-largest economy is projected to slow to 6.4 percent in 2018, the Reuters poll of more than 65 economists showed, as the property curbs and efforts to deal with debt risks are expected to gain more traction.

China's property investment and construction are seen slowing as more cities try to curb surging housing prices, while a government campaign against riskier lending pushes up borrowing costs and a crackdown on pollution hurts some factories. Chinese economic growth in the fourth quarter of 2017 is expected to cool to 6.7 percent from a year earlier, but the full-year growth is expected at 6.8 percent, according to the poll.

 

From Australia, tomorrow, CPI figures will be published. Analysts predict 0.8% increase. In the US session Durable Goods Orders and New Home Sales data will be published. Durable Goods Orders are expected to raise by 1.0%, while New Home Sales should show annual rate of 555,000.

 

Figures to watch:

 

CPI (Wednesday 2:30)

Durable Goods Orders (Wednesday 14:30)

New Home Sales (Wednesday 16:00)

More in this category: « EUR/USD Daily Forecast – 24 October GBP/USD Daily Forecast – 25 October »

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