Expectations of a rate hike this year in the US were revived by Fed Chair Yellen
Tuesday 30th August 2016
The Australian dollar opens this morning at 0.7570 against the USD up slightly for the day. With the market still digesting comments out of the Jackson Hole symposium last week the currency movement was minimal. New Home Sales fell further than expected with the HIA New Home sales number showing a -9.7% reading along with comments that building activity is likely to decrease across the next couple of years. That number is followed up by the building approvals data which will be released this morning where the market is expecting a modest growth of 1.2%. The big data release that the market is waiting for is the US jobs numbers which are released on Wednesday night.