Separate report on Building Approvals showed that the trend estimate for total dwellings approved rose 1.8% in September and has risen for eight months. The seasonally adjusted estimate for total dwellings approved rose 1.5% in September and has risen for two months. The trend estimate for private sector houses approved rose 0.7% in September and has risen for seven months. The seasonally adjusted estimate for private sector houses rose 0.6% in September following a fall of 0.8% in the previous month.
In the US session Unemployment Claims data was published. In the week ending October 28, the advance figure for seasonally adjusted initial claims was 229,000, a decrease of 5,000 from the previous week's revised level. The 4-week moving average was 232,500, a decrease of 7,250 from the previous week's revised average. This is the lowest level for this average since April 7, 1973 when it was 232,250. Claims taking procedures continue to be severely disrupted in the Virgin Islands. The ability to take claims has improved in Puerto Rico and they are now processing backlogged claims.
Tomorrow's session will bring Australian Retail Sales figures. Analysts forecast 0.4% increase. In the US session NFP report and ISM Non-Manufacturing PMI data will be released. Number of employed should increase by 311,000, while Unemployment Rate should remain unchanged at 6.2%. ISM Non-Manufacturing PMI is expected to decrease to 58.5.
Figures to watch:
Retail Sales (Friday 1:30)
Non-Farm Employment Change/Unemployment Rate (Friday 14:30)
ISM Non-Manufacturing PMI (Friday 16:00)
Last modified on Thursday, 02 November 2017
