The AUD/USD pair traded near its highest level in 11 weeks, where the US dollar continued to drop against other higher-yielding currencies, while the strong GDP numbers from China still has its optimistic effect on Aussie.
The US dollar retreated for the second day against the euro and other majors, where anticipations refer to some recovery in the U.S. industrial sector and confidence between homebuilders which was enough to support the risk appetite.
On the other hand the Chinese economy reported a better than expected GDP during the fourth quarter, which supported the Aussie demand since China is number one trade partner for Australia.
On Thursday at 00:30 GMT, Australia will release the Employment Change for December where the prior reading was -6.3 thousand and it’s expected to come at 10.0 thousand.
On the other hand, the Unemployment Rate for December is expected to hold at 5.3%.
On Thursday at 13:30 GMT, the U.S. economy will release the Consumer Price Index for December, where the prior reading was 0.0% and it’s expected to come at 0.1%. The annual CPI had a prior reading of 3.4% and expected to come at 3.1%.
The Housing Starts for December will be released also at 13:30 GMT, where the previous reading was up by 9.3% at 685 thousand, and expected to remain unchanged at 685 thousand. The U.S. Building Permits are expected with 0.7% drop to 675 thousand from the prior reading of 681 thousand.
The weekly initial claims are also due at the same time, where the number of people filing for first-time claims for the state unemployment insurance increased to 399 thousand last week.
Originally posted here
