- Wednesday, 07 March 2018
- Daily Fundamental Analysis
AUD/USD Daily Forecast - 08 March
Yesterday's session brought Australian GDP figures. The Australian economy grew 0.4 per cent in seasonally adjusted chain volume terms in the December quarter 2017, according to figures released by the Australian Bureau of Statistics (ABS) today. Chief Economist for the ABS, Bruce Hockman, said: “Growth this quarter was driven by the household sector, with continued strength in household income matched by growth in household consumption.” Compensation of employees (COE) increased 1.1 per cent in the December quarter, the fourth consecutive quarter of solid growth.
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- Tuesday, 06 March 2018
- Daily Fundamental Analysis
EUR/USD Daily Forecast - 07 March
From Eurozone, yesterday, Retail PMI figures were released. Eurozone retailers reported an eleventh consecutive monthly rise in like-for-like sales during February. Moreover, the rate of expansion quickened from January‟s five-month low and was solid overall. The acceleration at the eurozone level reflected sharper rises in Germany and France, and renewed growth in Italy. The headline IHS Markit Eurozone Retail PMI® rose to 52.3 in February, from 50.8 in January. Sales were broadly unchanged when compared tothe same month one year prior, after having beendown in January and December.
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- Tuesday, 06 March 2018
- Daily Fundamental Analysis
GBP/USD Daily Forecast - 07 March
With no data releases from the UK yesterday, focus was once again on Brexit. The EU has dismissed Theresa May’s Brexit speech as being more about Conservative party management than putting forward sensible solutions on trade, according to an internal document leaked to the Guardian. The Brussels analysis of the prime minister’s address, issued to representatives of all 27 member states, described her intervention as “a change in tone, but not in substance”, warning that all the UK’s red lines remained. And while it said the prime minister had promised clarity on Britain’s hopes for a future trading relationship, it described the model she proposed as unworkable and “double cherry-picking”. It also claimed there had been “zero progress” when it came to ideas for customs cooperation. Read more...
- Tuesday, 06 March 2018
- Daily Fundamental Analysis
AUD/USD Daily Forecast - 07 March
From Australia, yesterday, Retail Sales and Current account figures were released. Australian retail turnover rose 0.1 per cent in January 2018, seasonally adjusted, according to the latest Australian Bureau of Statistics (ABS) Retail Trade figures. This follows a 0.5 per cent fall in December 2017. "There were offsetting movements by industry with rises in other retailing (1.0 per cent), household goods retailing (0.1 per cent), and cafes, restaurants and takeaways (0.1 per cent) being offset by falls in clothing, footwear and personal accessories (-0.7 per cent) and department stores (-0.6 percent)," Ben James, Director of Quarterly Economy Wide Surveys at the ABS, said. "Food retailing was relatively unchanged (0.0 per cent)."
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