- Friday, 29 December 2017
- Daily Fundamental Analysis
GBP/USD Daily Forecast – 02 January
There were no data releases from the UK on Friday with focus on the upcoming 2018. Where does the UK economy stand heading into 2018? Economists James Knightley and James Smith at Dutch lender ING have compiled a handy "dashboard" showing the health of six key indicators in the economy. The indicators — inflation, consumer spending, hiring, wage growth, investment, and manufacturing — provide a reasonable snapshot of where things stand right now.
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- Friday, 29 December 2017
- Daily Fundamental Analysis
AUD/USD Daily Forecast – 02 January
There were no data releases both from Australia and USA on Friday so focus was more on developments in China, which is Australian trading partner number one. Growth in China's sprawling manufacturing sector likely slowed only slightly in December despite tough pollution measures that have forced some factories to curb production and a cooling housing market, a Reuters poll showed. The official manufacturing Purchasing Managers' Index (PMI) on Sunday is expected to dip marginally to 51.6 for December from an unexpectedly solid 51.8 in November, according to a median forecast of 30 economists polled by Reuters.
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- Thursday, 28 December 2017
- Daily Fundamental Analysis
EUR/USD Daily Forecast – 29 December
There were no data releases from Eurozone yesterday, with euro continuing its recent rally. What’s interesting about today’s rally in the EUR/USD is that it occurred under the backdrop of Spain’s political troubles, a decline in German bond yields, and record long positions according to the CFTC. These factors should make it harder not easier for EUR/USD to rally and could explain why it is struggling to break 1.19 in a meaningful way. With that in mind, EUR/USD is trading at the upper end of its month long range and primed for a move higher.
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- Thursday, 28 December 2017
- Daily Fundamental Analysis
GBP/USD Daily Forecast – 29 December
There were no data releases from the UK yesterday, with focus being on domestic monetary developments. The Bank of England (BoE) announced its first rate hike in more than a decade in November, amid strong inflationary pressures and a low level of unemployment. At the time, it also signaled its intention to gradually tighten its monetary policy over the coming years. Thus, markets have priced another rate hike in for next year, but some believe there could be two interest rate increases in 2018. One key factor for the central bank is Brexit. At the moment, the U.K.'s decision to leave the EU has mainly led to a depreciation of the pound.
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