- Friday, 26 January 2018
- Daily Fundamental Analysis
GBP/USD Daily Forecast – 29 January
Focus of the Friday's session was on UK GDP figures. UK gross domestic product (GDP) was estimated to have increased by 0.5% in Quarter 4 (Oct to Dec) 2017, compared with 0.4% in Quarter 3 (July to Sept) 2017. The dominant services sector, driven by business services and finance, increased by 0.6% compared with the previous quarter, although the longer-term trend continues to show a weakening in services growth. Production industries grew by 0.6%, boosted by the second consecutive quarter of strong growth in manufacturing.
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- Friday, 26 January 2018
- Daily Fundamental Analysis
AUD/USD Daily Forecast – 29 January
There were no data releases from Australia on Friday, with public holiday being celebrated. Australia Day is being marked around the nation, with around 13,000 people becoming citizens. But for some Indigenous Australians January 26 is a time of mourning, and protests are also taking place across the country. From boot-throwing competitions to citizenship ceremonies in Antarctica, here is how people are spending the day.
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- Thursday, 25 January 2018
- Daily Fundamental Analysis
GBP/USD Daily Forecast – 26 January
From the UK, yesterday, CBI Realized Sales data was released. According to the latest CBI survey on Realized Sales that 33% of retailers said that sales volumes were up in January on a year ago, whilst 21% said they were down, giving a balance of +12%. Anna Leach, CBI Head of Economic Intelligence, said: “Retailers have seen fairly modest sales growth this month overall, but it is online retailers who have set the pace during the January sales. “Household spending will remain under pressure this year from higher inflation and low wage growth, which will continue to weigh on sales growth in the retail sector.”
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- Thursday, 25 January 2018
- Daily Fundamental Analysis
AUD/USD Daily Forecast – 26 January
There were no data releases from Australia yesterday. The Australian Dollar has moved to test the highs set in 2017 as expected but technical positioning has started to warn of a possible reversal in the works. Negative RSI divergence points to ebbing upside momentum, hinting that buyers may be rejected near the 0.81 figure once again. Near-term support is at 0.7978, the 76.4% Fibonacci expansion. A turn below this barrier would mark a break of the uptrend from mid-December lows and expose the 61.8% level at 0.7887. Alternatively, a daily close above the 23.6% Fib expansion at 0.8081 targets the 38.2% threshold at 0.8159.
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