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AUD/USD Daily Forecast – 28 November

Monday, Nov 27 2017
AUD/USD Daily Forecast – 28 November

There were no major data releases from Australia yesterday.  The White Paper makes clear that the most significant of these challenges stems from the two major powers in our region — the United States and China — and the relationship between them. Few will be surprised by Australia’s view that it faces a more contested and uncertain international environment as a result of the changing balance of power between the United States and China and its concerns about how China may use its political, military and economic weight in the future.

In the US session New Home Sales figures were released. Sales of new single-family houses in October 2017 were at a seasonally adjusted annual rate of 685,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development. This is 6.2 percent  above the revised September rate of 645,000 and is 18.7 percent above the October 2016 estimate of 577,000. The median sales price of new houses sold in October 2017 was $312,800. The average sales price was $400,200. The seasonally-adjusted estimate of new houses for sale at the end of October was 282,000. This represents a supply of 4.9 months at the current sales rate.

 

There will be no data releases from Australia tomorrow. In the US session CB Consumer Confidence data will be published. Decline to 123.9 is anticipated.

 

Figures to watch:

 

CB Consumer Confidence (Tuesday 16:00)

More in this category: « EUR/USD Daily Forecast – 27 November GBP/USD Daily Forecast – 28 November »

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