Analysis and Recommendation: The AUD/USD gained 16 points while the US dollar declined 22 points pushing the Aussie to 0.7272. A dip on construction work
The AUD/USD gained 16 points while the US dollar declined 22 points pushing the Aussie to 0.7272. A dip on construction work limited the gains of the Aussie. Construction work done in Australia has fallen faster than expected in the September quarter as engineering work dries up amid the mining investment bust.
But residential building has lifted to a record high level, as low interest rates continue to buoy construction in the sector.
Data from the Australian Bureau of Statistics showed total construction work for the three months to September decreased 3.6 per cent to $49.04 billion, on a seasonally adjusted basis, showing a faster-than-expected deterioration compared to economist forecasts of a 2 per cent drop. The fresh data reveals construction work is 3.7 per cent lower than at the same time a year ago.
Also on Wednesday, the government noted that skilled vacancies were up 0.6 percent on month in October after rising a downwardly revised 1.1 percent in September. Consumer confidence in the U.S. has unexpectedly seen a substantial deterioration in the month of November, the Conference Board revealed in a report on Tuesday.
The Conference Board said its consumer confidence index tumbled to 90.4 in November from an upwardly revised 99.1 in October. Data weighed heavily on the AUD in the morning session.
FxEmpire provides in-depth analysis for each currency and commodity we review. Fundamental analysis is provided in three components. We provide a detailed monthly analysis and forecast at the beginning of each month. Then we provide more up to the data analysis and information in our weekly reports.
Today’s economic releases:
Cur. |
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Event |
Actual |
Forecast |
Previous |
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USD |
API Weekly Crude Oil Stock |
2.600M |
-0.200M |
-0.482M |
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JPY |
Monetary Policy Meeting Minutes |
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AUD |
Construction Work Done (QoQ) (Q3) |
-3.6% |
-2.1% |
2.1% |
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GBP |
BBA Mortgage Approvals |
|
45.5K |
44.5K |
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AUD |
RBA Assist Gov. Debelle Speaks |
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Upcoming Economic Events that you should be monitoring:
Wednesday, November 26, 2015
Cur. |
Event |
Actual |
Forecast |
Previous |
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|
United States – Thanksgiving Day |
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NZD |
Trade Balance (MoM) (Oct) |
|
-937M |
-1,222M |
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NZD |
Trade Balance (YoY) (Oct) |
|
-3,370M |
-3,200M |
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AUD |
Private New Capital Expenditure |
|
-3.0% |
-4.0% |
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EUR |
GfK German Consumer Climate (Dec) |
|
9.2 |
9.4 |
Government Bond Auctions
Date Time Country
Nov 25 11:03 Sweden Sek 4bn 1% Nov 2026 bond
Nov 25 11:10 Italy Auctions CTZ/BTPei
Nov 25 11:30 Germany Eur 3bn 1.0% Aug 2025 Bund
Nov 25 17:30 US Usd 35bn 2-year FRN
Nov 25 19:00 US Usd 29bn 7-year note
Nov 26 11:03 Sweden Sek 5bn 1% Nov 2026 bond exchange
Nov 27 11:03 Sweden 1.5% Nov 2023 bond exchange, 1% Nov 2026 bond exchange
Nov 27 11:10 Italy Auctions BTPs
Nov 27 N/A Spain Announces details of 03 Dec
Nov 30 11:03 Sweden Holds bond auction
Dec 01 11:30 UK 1.5% 2021 Gilt auction
Dec 02 16:30 Sweden Announces details of Bond on 11 Dec
Dec 03 10:30 Spain Auctions
Dec 03 10:50 France Auctions OATs
Dec 03 11:03 Sweden Holds I/L bond auction
Dec 04 11:03 Sweden Holds I/L bond auction