Jobless Claims Lowest Since April 2008, CPI & Housing Starts Weaker, Building Permits Stay the Same
Consumer Price Index(MoM): Survey: 0.1% Actual: 0.0% Prior: 0.0%
CPI Ex Food & Energy(MoM): Survey: 0.1% Actual: 0.1% Prior: 0.2%
Housing Starts (MoM)%: Survey: -0.7% Actual: -4.1% Prior: 9.3% Revised: 9.1%
Building Permits: Survey: 679K Actual: 679K Prior: 681K Revised: 680K
Building Permits (MoM)%: Survey: -0.2% Actual: -0.1% Prior: 5.7% Revised: 5.6%
Jobless Claims: Survey: 384K Actual: 352K Prior: 399K Revised: 402K
Continuing Claims: Survey: 3590K Actual: 3432K Prior: 3628K Revised: 3647K
1-19 Economic Calendar
China Sets Yuan Reference Rate @ 6.3173
Aussie Employment Report
The AUDUSD fell by 50 pips initially as the Aussie employment report showed a loss of -29.3K jobs versus the estimate of a 10K increase. However the currency has quickly recovered as a look at the details revealed the loss was driven mostly by a loss of part-time jobs following the holiday season. The details of the release are as follows:
- Employment Change – Survey:10K Actual:-29.3K Prior:-6.3K
- Unemployment Rate – Survey:5.3% Actual:5.2% Prior:5.3%
- Full Time Change – Survey:18.8K Actual:24.5K Prior:-39.9K
- Part Time Change – Survey:-8.8K Actual:-53.7K Prior:33.6K
The Aussie wedge we reviewed yesterday continues to hold.
ANZ Consumer Confidence
Consumer Confidence in Australia came in much stronger that the prior month in January with the Index printing a 116.1 (108.4 prior) and 7.1% lift (-0.6% prior.)
Aussie Consumer Inflation Expectation
The Aussie Consumer Inflation Expectation for January came in at 2.8%, firmer than the prior release of 2.4%, helping the AUD gain a mild bid.
New Zealand CPI
New Zealand’s Consumer Price Index for the 4th quarter came in well below expectations, the details are as follows:
- CPI (QoQ) – Survey:0.4% Actual:-0.3% Prior:0.4%
- CPI (QoQ) – Survey:2.6% Actual:1.8% Prior:4.6%
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