- Saturday, 25 November 2017
- Daily Fundamental Analysis
AUD/USD Daily Forecast – 27 November
There were no major data releases from Australia on Friday. Short-covering in the Aussie and Kiwi could continue early next week in reaction to the dovish minutes from the Fed meeting in November. At the meeting, some Federal Open Market Committee policymakers expressed concerns over low U.S. inflation. They felt that the upcoming data would be critical in determining whether they felt the Fed was close to meeting its 2 percent inflation goal. The December Fed rate hike is a done deal, but the rate hikes in 2018 are the issue. Recently Fed member forecasts called for as many as three rate hikes next year. However, the dovish remarks in the latest minutes have caused Federal Fund futures traders to lower the number to only two rate hikes.
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- Thursday, 23 November 2017
- Daily Fundamental Analysis
EUR/USD Daily Forecast – 24 November
From Eurozone, yesterday, French and German PMI figures were released. Growth in the French private sector accelerated in November, bolstering the economic outlook for the euro zone’s second largest economy according to data released on Thursday. The preliminary reading of the Markit services purchasing managers’ index came in at 60.2 this month from 57.3 in October. It was a 78-month high. Economists had forecast a reading of 57.0. The manufacturing PMI increased to 57.5, compared to expectations for 55.9 and from 56.1 a month earlier. It was the highest level in 79 months.
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- Thursday, 23 November 2017
- Daily Fundamental Analysis
GBP/USD Daily Forecast – 24 November
From the UK, yesterday, Second Estimate GDP and CBI Realized Sales figures were released. UK gross domestic product (GDP) in volume terms was estimated to have increased by 0.4% between Quarter 2 (Apr to June) and Quarter 3 (July to Sept) 2017, unrevised from the preliminary estimate of GDP. Services remained the strongest contributor to GDP growth in Quarter 3 2017, with the components of the output approach broadly unrevised from the preliminary estimate. The rate of growth in household final consumption expenditure strengthened to 0.6% between Quarter 2 and Quarter 3 2017, with car purchases recovering somewhat from a low Quarter 2. Business investment growth softened to 0.2% between Quarter 2 and Quarter 3 2017. GDP per head was estimated to have increased by 0.3% between Quarter 2 and Quarter 3 2017.
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- Thursday, 23 November 2017
- Daily Fundamental Analysis
AUD/USD Daily Forecast – 24 November
There were no data releases from Australia yesterday. The rallies in the Australian and New Zealand Dollars continued to pick up momentum on Thursday as bullish investors took advantage of thin trading conditions and oversold conditions to drive the Forex pairs not seen in a week. A change in sentiment may be setting up the Aussie for a prolonged rally. The Australian and New Zealand Dollars are also being underpinned by comments from Fed Chair Janet Yellen before the release of the Fed minutes. Read more...
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