Separate report on Construction Work Done showed that Tte trend estimate for total construction work done rose 1.1% in the December quarter 2017. The seasonally adjusted estimate for total construction work done fell 19.4% to $50,320.7m in the December quarter. The trend estimate for total building work done rose 0.5% in the December quarter. The trend estimate for non-residential building work rose 2.5% and residential building work fell 0.7%. The seasonally adjusted estimate of total building work done rose 0.2% to $28,124.0m in the December quarter.

In the US session Exisiting Home Sales figures were released. Total existing-home sales , which are completed transactions that include single-family homes, townhomes, condominiums and co-ops, sank 3.2 percent in January to a seasonally adjusted annual rate of 5.38 million from a downwardly revised 5.56 million in December 2017. After last month’s decline, sales are 4.8 percent below a year ago (largest annual decline since August 2014 at 5.5 percent) and at their slowest pace since last September (5.37 million).

However, the focus of the session was on FOMC Meeting Minutes. Federal Reserve policymakers expressed a cautious outlook on wage growth amid a "few signs of a broad-based pickup in wage growth," but remained confident that inflation would "move up this year," according to the minutes of the Fed's January policy meeting. "Inflation on a 12-month basis was expected to move up this year and to stabilize around the Committee’s 2 percent objective over the medium term," the minutes showed. "While some participants heard more reports of wage pressures from their business contacts over the intermeeting period, participants generally noted few signs of a broad-based pickup in wage growth in available data,” the minutes showed.

There will be no data releases from Australia tomorrow. In the US session Unemployment Claims figures will be published. No changes are expected.

Figures to watch:

Unemployment Claims (Thursday 14:30)