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AUD/USD Weekly Forecast – 04 December – 08 December

Friday, Dec 01 2017
AUD/USD Weekly Forecast – 04 December – 08 December

Events that marked the week:

Thursday's session brought Australian Building Approvals and Private Capital Expenditure figures. The trend estimate for total dwellings approved rose 0.7% in October and has risen for nine months. The seasonally adjusted estimate for total dwellings approved rose 0.9% in October. The trend estimate for private sector houses approved rose 0.6% in October and has risen for eight months. The seasonally adjusted estimate for private sector houses rose 1.5% in October. The trend estimate for private sector dwellings excluding houses rose 0.8% in October and has risen for five months. The seasonally adjusted estimate for private sector dwellings excluding houses fell 1.0% in October.

 

Separate report on Private Capital Expenditure showed that the trend volume estimate for total new capital expenditure rose by 1.1% in the September quarter 2017 while the seasonally adjusted estimate rose by 1.0%. The trend volume estimate for buildings and structures rose by 1.0% in the September quarter 2017 while the seasonally adjusted estimate rose by 1.2%. The trend volume estimate for equipment, plant and machinery rose by 1.2% in the September quarter 2017 while the seasonally adjusted estimate rose by 0.7%.

 

There were no data releases from Australia on Friday, but from China Manufacturing PMI figures were released. The Caixin China General Manufacturing Purchasing Managers’ Index (PMI) fell marginally from the previous month to 50.8 in November, but remained in expansion territory. The sub-index of output inched up, rising for the first time in four months, but the new orders sub-index declined. The increase in input prices moderated while the rise in output prices accelerated, with both maintaining rather quick rates of growth. Stocks of purchases turned around to increase as stocks of finished goods continued to diminish.

 

This week markets will be looking at:

 

Current Account (Tuesday 1:30)

Retail Sales (Tuesday 1:30)

Cash Rate/RBA Rate Statement (Tuesday 4:30)

GDP (Wednesday 1:30)

Trade Balance (Thursday 1:30)

Home Loans (Friday 1:30)

Last modified on Friday, 01 December 2017
More in this category: « EUR/USD Weekly Forecast – 27 November – 01 December GBP/USD Weekly Forecast – 04 December – 08 December »

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