Market Update: Construction Work Done Misses Forecast

The AUD/USD trades slightly bullish at 0.7235 despite the worse than expected construction work report from the Australian Bureau of...

Written by: Arslan Butt • Wednesday, November 28, 2018 • 1 min read

• Last updated: Wednesday, November 28, 2018

The AUD/USD trades slightly bullish at 0.7235 despite the worse than expected construction work report from the Australian Bureau of Statistics. The figure shows a change in the total inflation-adjusted value of construction projects completed. This release gives insight into the GDP data which is released about a week later.

Economists were expecting a slight drop from 1.8% to 0.8% this month, but the actual figure plunged dramatically to -2.8%.

What’s Next?

GBP – Bank Stress Test Results
GBP – BOE Financial Stability Report

The reports are tentative but most likely to come out during the London session. Stay tuned!

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ABOUT THE AUTHOR See More

Arslan Butt

Lead Markets Analyst – Multi-Asset (FX, Commodities, Crypto)

Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics. His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker. His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.