- Wednesday, 20 December 2017
- Daily Fundamental Analysis
AUD/USD Daily Forecast – 21 December
From Australia, yesterday, MI Leading Index figures were released. The six month annualised growth rate in the Westpac-Melbourne Institute Leading Index, which indicates the likely pace of economic activity relative to trend three to nine months into the future, lifted from +0.51% in October to +0.69% in November. Westpac’s Chief Economist, Bill Evans, commented, “This is a strong above trend reading and, following the solid result in October, points to some of the headwinds to growth evident earlier in the year having eased. That said, there are still key negatives around housing, household incomes and the consumer which are likely to contain any upswing in 2018.”
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- Tuesday, 19 December 2017
- Daily Fundamental Analysis
EUR/USD Daily Forecast – 20 December
From Eurozone, yesterday, German Business Climate figures were released. Chancellor Angela Merkel is struggling to form a stable government after her conservatives lost voters to the far right in September’s election and her attempt at a tricky three-way alliance with two smaller parties failed last month. The Munich-based Ifo economic institute said its business climate index, based on a monthly survey of some 7,000 firms, edged down to 117.2 from an upwardly revised reading of 117.6 in November which was the highest on record. Read more...
- Tuesday, 19 December 2017
- Daily Fundamental Analysis
GBP/USD Daily Forecast – 20 December
There were no data releases from the UK yesterday with focus on Brexit once again. 18-months on from the referendum, some polls show the "Remain" camp has moved into the lead. This is understandable, as the "Brexit" camp oversold the benefits and minimized the costs, which are becoming clearer as the divorce talks proceed. Cameron made the referendum binding, and although May deviated from several of his initiatives, she could not bring herself (or the country) to do re-think the results of the referendum. The EU (and others) can rightly be surprised that the UK would make such a momentous decision on the basis of such a narrow vote.
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- Tuesday, 19 December 2017
- Daily Fundamental Analysis
AUD/USD Daily Forecast – 20 December
Focus of the yesterday's session was on RBA Minutes. The Reserve Bank of Australia expressed ore confidence in the economy in the release of the minuts from the December policy review on Tuesday. The RBA held its cash rate at a record low 1.50% at the meeting. Growth in employment, particularly full-time employment, had increased and the unemployment rate had fallen to a four-year low. Taking account of the available information, the Board judged that holding the stance of monetary policy unchanged at this meeting would be consistent with sustainable growth in the economy and achieving the inflation target over time.
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