Market Update: Construction Work Done Misses Forecast - FX Leaders News

Market Update: Construction Work Done Misses Forecast

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

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

Arslan Butt is our Index & Commodity Analyst
Arslan Butt is our Lead Commodities and Indices Analyst. Arslan is a professional market analyst and day trader. He holds an MBA in Behavioral Finance and is working towards his Ph.D. Before joining FX Leaders Arslan served as a senior analyst in a major brokerage firm. Arslan is also an experienced instructor and public speaker.
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