- Thursday, 07 December 2017
- Daily Fundamental Analysis
AUD/USD Daily Forecast – 08 December
Yesterday, from Australia, Trade Balance figures were released. Australia's trade surplus has shrunk dramatically, falling to $105 million in October from $1.6 billion the month before. Economists had been expecting a much higher trade surplus around $1.4 billion. The worse than expected result was driven by both a 3 per cent slide in exports and a 2 per cent increase in imports, according to the ABS figures. A big factor in the export decline was a slump in iron ore sales, which fell by 10 per cent over the month to just over $7 billion. Coal exports were also down 3 per cent to $4.3 billion.
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- Wednesday, 06 December 2017
- Daily Fundamental Analysis
EUR/USD Daily Forecast – 07 December
Yesterday's session brought German Factory Orders figures. Based on provisional data, the Federal Statistical Office (Destatis) reports that price-adjusted new orders in manufacturing had increased in October 2017 a seasonally and working-day adjusted 0.5% on the previous month. For the third time in a row, German companies have thus received more orders as they did before the economic and financial crisis end of 2007. For September 2017, revision of the preliminary outcome resulted in increase of 1.2% compared with August 2017 (primary +1.0%).
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- Wednesday, 06 December 2017
- Daily Fundamental Analysis
GBP/USD Daily Forecast – 07 December
There were no data releases from the UK yesterday. Overnight the Telegraph and Bloomberg reported that Theresa May is facing a revolt from inside her Cabinet over her plan to keep U.K. regulations aligned with the European Union after Brexit, "a split that threatens to undermine her chances of breaking the deadlock in negotiations." Foreign Secretary Boris Johnson and Environment Secretary Michael Gove "will lead a Cabinet revolt against Theresa May over fears she is forcing a soft Brexit" the Telegraph reported. While this is hardly the first time we’ve heard this sort of speculation, considering the closeness to the EU Council Summit next Thursday/Friday, the clock is ticking for May to come up with a solution. Read more...
- Wednesday, 06 December 2017
- Daily Fundamental Analysis
AUD/USD Daily Forecast – 07 December
Yesterday's session was marked by Australian GDP figures. The Australian economy grew by 0.6% in seasonally adjusted chain volume terms in the September quarter. Compensation of employees increased 1.2%. 17 of 20 industries recorded positive growth this quarter. New engineering construction increased 6.3%. Household final consumption expenditure increased 0.1% for the quarter. The terms of trade had a small fall of 0.4% in the September quarter 2017 following a decline of 6.0% in the June quarter.
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