Australia AIG performance of construction index rises 10.6 points to 35.5 in June - Reuters

Ross J Burland FXStreet

Australia's AIG performance of construction index rises 10.6 points to 35.5 in June.

AUD/USD is unchanged on the data, travelling sideways into holiday thin market conditions.

At the time of wiring, AUD/USD is flat on the session at 0.6924.

AUD/USD Forecast: Dismal mood prevents Aussie from rallying

Meanwhile, the ASX 200 Index is trading 6032 pre-market, set to jump higher this morning as Wall Street surged on record payrolls jump that indicated the economic recovery is underway. The share price index futures rose 0.6% in a 15 point premium to the underlying index.

Robust commodity prices are also likely to underpin risk sentiment.

The ANZ China Commodity Index subsequently finished the session up 0.5%, analysts at ANZ Bank explained.

The energy sector rose the most, with crude oil and natural gas recording strong gains. Industrial metals were higher, led by copper and nickel. Iron ore was slightly higher, and coking coal slightly lower.

Agriculture was mixed, with strong gains in cotton and palm oil offsetting falls in soybeans and corn. Gold saw a small gain, lifting the precious metals sector.

Description of the HIA/AiG Performance of Construction Index

Based on 120 interviews to companies, the HIA/AiG Performance of Construction Index, released by the Australian Industry Group and the Housing Industry Association, is considered as an indicator that measures the conditions on the short and medium-term in the construction market.

Companies answer questions related to production, employment, prices supplier deliveries, inventories and new orders. A high reading is seen as positive, or bullish for the AUD, while a low reading is seen as negative, or bearish.

Author

Ross J Burland

FXStreet

Ross J Burland, born in England, UK, is a sportsman at heart. He played Rugby and Judo for his county, Kent and the South East of England Rugby team.

EUR/USD faces some resistance near 100-SMA on H4, around 1.1830 zone

The EUR/USD pair gains some follow-through positive traction for the second consecutive day and climbs to the 1.1830 region during the Asian session on Thursday. The US Dollar remains on the back foot amid concerns about the economic fallout from US President Donald Trump's erratic trade policies and acts as a tailwind for spot prices.

GBP/USD extends recovery to near 20-day EMA as US Dollar weakens

The Pound Sterling holds onto weekly gains around 1.3565 against the US Dollar during the Asian trading session on Thursday. The GBP/USD pair trades firmly as the US Dollar remains under pressure due to uncertainty surrounding the United States trade policy outlook.

Gold struggle with $5,200 extends ahead of more US-Iran talks

Gold is replicating the recovery moves seen in Wednesday’s Asian trading early Thursday, as buyers continue to flirt with the $5,200 level. Sustained US Dollar weakness and looming US-Iran talks aid the bright metal’s rebound.

Stellar: Relief bounce fades as bearish undertone persists

Stellar is trading around $0.16 at the time of writing on Thursday after rebounding more than 8% in the previous day. Derivatives data paints a negative picture as XLM’s short bets hit a monthly high while Open Interest continues to decline.

Nvidia delivers another monster earnings report, and forecasts big things to come

It was another monster earnings report from Nvidia for fiscal Q4. Revenues were $68.1bn, smashing estimates of $65bn. Gross profit margin was a healthy 75%, up from 73.5% in the prior quarter, and the outlook for this quarter was monstrous.

Cosmos Hub Price Forecast: ATOM rebounds slightly, bearish outlook remains intact

Cosmos Hub (ATOM) price rebounds, trading above $2.05 at the time of writing on Wednesday, after undergoing a sharp correction since last week. Weakening on-chain and derivatives data support a bearish outlook, while technical analysis remains unfavorable.