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AUD/USD Daily Forecast – 31 October

Monday, Oct 30 2017
AUD/USD Daily Forecast – 31 October

From Australia, yesterday, house prices figures were released. October was another soft month for Australian house prices, continuing the trend seen in August and September. According to CoreLogic, prices across Australia’s five mainland state capitals were unchanged again last week in average weighted terms, mirroring the result one week earlier. By individual capital, prices in Sydney fell by 0.1%, offsetting a 0.2% gain in Melbourne.

The contrasting price performance fits with a recent divergence in auction clearance rates between the two cities with Melbourne continuing to outperform Sydney since the middle of the year. Prices in Brisbane, Adelaide and Perth were unchanged over the week. Over the past four weeks, price growth nationwide has also stalled with a 0.4% decline in Sydney offset by a 0.5% gain in Melbourne.

 

There will be no major data releases from Australia tomorrow, but from China Manufacturing and Non-Manufacturing PMI figures will be published, though only slight decrease is expected. In the US session Consumer Confidence figures will be published. Incline to 121.1 is anticipated.

 

Figures to watch:

 

China's Manufacturing PMI/Non-Manufacturing PMI (Tuesday 2:00)

CB Consumer Confidence (Tuesday 15:00)

More in this category: « EUR/USD Daily Forecast – 30 October GBP/USD Daily Forecast – 31 October »

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