Here are the key factors to keep in mind today for Australian Dollar trades:
- Australian Conference Board Leading Index: The Conference Board Leading Index for September decreased by 0.1%. Forex traders can compare this to the Conference Board Leading Index for August which decreased by 0.4%.
- Australian Westpac Leading Index: Westpac Leading Index for October increased by 0.1% monthly. Forex traders can compare this to the Westpac Leading Index for September which increased by 0.1% monthly.
- Australian Wage Cost Index: The Wage Cost Index for the third-quarter rose 0.6% quarterly and 2.3% annualized. Economists predicted an increase of 0.6% quarterly and 2.3% annualized. Forex traders can compare this to the second-quarter Wage Cost Index which rose 0.6% quarterly and 2.3% annualized.
Here are the key factors to keep in mind today for US Dollar trades:
- US Housing Starts & Building Permits: Housing Starts for October are predicted to decrease by 3.8% monthly which would amount to 1,160K Housing Starts. Forex traders can compare this to September Housing Starts which rose 6.5% for a total of 1,206K Housing Starts. Building Permits for October are predicted to increase by 3.9% monthly which would amount to 1,149K Building Permits. Forex traders can compare this to September Building Permits which decreased 4.8% for a total of 1,105 Building Permits.
- US Fed Minutes: The last meeting of the US Fed started on October 27th and ended on October 28th. The Fed kept interest rates unchanged at 0.25%. After October’s NFP report, many analysts believe that the Fed will increase interest rates in December. This allowed the US Dollar to rally. According to Fed watchers, the Fed wants to increase rates but most data does not support this. Fed Chair Yellen stated she wants to increase rates in December and today’s minutes from the previous meeting may offer a clue on how close the Fed is to raising rates. Any change in the language of the statement could offer a clear signal that rates will be increased. While the majority believes the Fed will raise rates in December, today’s statement is believed to remain the same.
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