New orders for US manufactured core durable goods dropped less than expected last month, official figures revealed on Wednesday. According to the US Department of Commerce, total new orders for durable goods were unchanged on a monthly basis in August, following the preceding month's downwardly revised gain of 3.6%, whereas market analysts expected new orders to drop 1.0% in the eight month of the year. August's flat reading was mainly driven by a 21.9% drop in demand for civilian aircraft. Excluding goods like motor vehicles and machinery, durable goods orders declined 0.4% in August, while economic desks penciled in a fall of 0.5%. The previous month's rise in core new orders was revised down to 1.3% from the originally reported 1.5%. Other data released by the Energy Information Administration on Wednesday showed crude oil inventories in the United States fell 1.9 million barrels in the week ended September 23, whereas analysts anticipated a rise of 2.4 million barrels after the preceding week's 6.2 million-barrel drop. After the release, WTI crude rose 1.1% to trade at $45.18 per barrel, whereas Brent crude advanced 1.5% to trade at $46.66 on the NYSE.
According to the Bureau of Statistics release, Australia's official unemployment rate has reached 5.6%, despite the forecasts of the 3,900 jobs loss last month. Australian employment, in turn, declined for the first time in seven months, although underlying that trend remains favorable as full-time jobs rebounded. The economy shed 3,900 jobs in August, compared with a revised gain of 25,300 in July. Also, the good news is that full-time employment added 11,500, while July's drop was revised to 43,400. Overall, Australia's labour market remains in decent health despite strong concerns about the economy's ability to hold a possible downturn following the end of the mining investment boom. Consistent jobs creation has painted a favorable picture of Australia's economy, which recently recorded its 21st consecutive quarter of economic expansion. Taking into account all the data as well as interest rates, employment should continue its gradual upward revision in the near future.
Upcoming fundamentals: Various types of US data
In the second part of the day data from the US will reveal how strong the Greenback is. First, at 12:30 GMT the US Final GDP for the last quarter will be out, and at the same time the US Unemployment Claims are also set to be released. Last but likely the most important will be the Fed Chairwoman's Janet Yellen's Speech at 20:00 GMT.
Gold rebounds against trend line
Daily chart: The bullion bounced off the rising wedge pattern's lower trend line and surged on Thursday morning. On early morning, the metal was about to face a resistance cluster from 1,326 to 1,331, which is comprised of both the weekly and monthly pivot points and the 20 and 55-day simple moving averages. Previously, it was possible that the yellow metal will break out from the rising wedge pattern due to the pressure provided by a triangle pattern, and the threat still remains, as the triangle remains active.Traders become neutral on the metal
Spreads (avg,pip) / Trading volume / Volatility
Market participants foresee the price of gold around 1,350 by December
Traders who were asked regarding their longer-term views on gold between August 29 and September 29 expect, on average, to see the metal around 1,350 by the end of December. Generally, 57% of participants believe the price will be above 1,350 in ninety days. Alongside, 26% (-1%) of those surveyed reckon the price will trade in the range between 1,200 and 1,350 over the next three months