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AUD/USD Daily Forecast – 10 January

Tuesday, Jan 09 2018
AUD/USD Daily Forecast – 10 January

Yesterday's session brought Australian Building Approvals figures. The number of dwellings approved rose 0.9 per cent in November 2017, in trend terms, and has risen for 10 months, according to data released by the Australian Bureau of Statistics (ABS) today. In seasonally adjusted terms, dwelling approvals increased by 11.7 per cent in November, driven by a rise in private dwellings excluding houses (30.6 per cent), while private house approvals fell 2.0 per cent. The value of total building approved rose 1.5 per cent in November, in trend terms, and has risen for 11 months. The value of residential building rose 2.3 per cent while non-residential building rose 0.2 per cent.

In the US session JOLTS Job Openings data was released. The number of job openings was little changed at 5.9 million on the last business day of November, the  U.S. Bureau of Labor Statistics reported today. Over the month, hires and separations were little  changed at 5.5 million and 5.2 million, respectively. Within separations, the quits rate was unchanged at  2.2 percent and the layoffs and discharges rate was little changed 1.1 percent. This release includes  estimates of the number and rate of job openings, hires, and separations for the nonfarm sector by  industry and by four geographic regions.

 

There will be no major data releases both from Australia and USA tomorrow, but from China CPI and PPI figures will be published. Analysts predict incline by 1.9% in China CPI and decrease to 4.8% in PPI.

 

Figures to watch:

 

CPI/PPI (Wednesday 2:30)

More in this category: « EUR/USD Daily Forecast – 09 January GBP/USD Daily Forecast – 10 January »

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