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AUD/USD Daily Forecast – 08 December

Thursday, Dec 07 2017
AUD/USD Daily Forecast – 08 December

Yesterday, from Australia, Trade Balance figures were released. Australia's trade surplus has shrunk dramatically, falling to $105 million in October from $1.6 billion the month before. Economists had been expecting a much higher trade surplus around $1.4 billion. The worse than expected result was driven by both a 3 per cent slide in exports and a 2 per cent increase in imports, according to the ABS figures. A big factor in the export decline was a slump in iron ore sales, which fell by 10 per cent over the month to just over $7 billion. Coal exports were also down 3 per cent to $4.3 billion.

In the US session Unemployment Claims data was released. In the week ending December 2, the advance figure for seasonally adjusted initial claims was 236,000, a decrease of 2,000 from the previous week's unrevised level of 238,000. The 4 week moving average was 241,500, a decrease of 750 from the previous week's unrevised average of 242,250. Claims taking procedures continue to be disrupted in the Virgin Islands. Claims taking process in Puerto Rico has still not returned to normal.

 

From Australia, tomorrow, Home Loans figures will be released. Decline by 2.2% is anticipated. In the US session NFP report will be published. Analysts predict an increase of 198,000 in number of employed, while Unemployment Rate should remain unchanged at 4.1%.

 

Figures to watch:

 

Home Loans (Friday 1:30)

Non-Farm Employment Change/Unemployment Rate (Friday 14:30)

More in this category: « EUR/USD Daily Forecast – 07 December GBP/USD Daily Forecast – 08 December »

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