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AUD/USD Daily Forecast – 12 December

Monday, Dec 11 2017
AUD/USD Daily Forecast – 12 December

There were no data releases from Australia yesterday, but over the weekend China's CPI and PPI figures were released. China's consumer inflation, which has stayed well within Beijing's 2017 target of 3 percent this year, slowed more than expected in November to 1.7 percent from 1.9 percent previously, as food prices fell. Non-food price inflation quickened to 2.5 percent in November from 2.4 percent in October. The consumer price index (CPI) had been expected to edge down to 1.8 percent on-year compared with an increase of 1.9 percent in October. The world's second-biggest economy has defied market expectations with economic growth of 6.9 percent in the first nine months of the year, supported by a construction boom and robust exports.

China's producer price inflation slowed to a four-month low in November as factory activity softened due to the government's ongoing efforts to curb pollution, cooling demand from factories for raw materials. Producer prices rose 5.8 percent from a year earlier - the lowest since July, the National Bureau of Statistics said on Saturday. The rise was slightly less than market expectations and compared with the previous month's 6.9 percent increase. Analysts polled by Reuters had predicted the PPI in November would rise an annual 5.9 percent, easing back also because of a high base a year earlier.

 

From Australia, tomorrow house prices and NAB Business Confidence figures will be released. Analysts predict 0.6% increase in house prices. In the US session PPI data will be published. 0.4% incline is anticipated.

 

Figures to watch:

 

HPI (Tuesday 1:30)

NAB Business Confidence (Tuesday 1:30)

PPI (Tuesday 14:30)

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