- Tuesday, 13 March 2018
- Daily Fundamental Analysis
AUD/USD Daily Forecast - 14 March
From Australia, yesterday, NAB Business Confidence figures were released. The business conditions index moved 3pts higher to +21 index points. This is a record high since the monthly survey commenced in March 1997, although the same measure in NAB’s quarterly survey reached this level in 1994. According to Alan Oster, NAB Group Chief Economist “The record level for the NAB Monthly Business Survey business conditions index indicates that business activity in Australia is robust. Moreover, the strength in conditions is broad based across industry groups.” In contrast, the business confidence index declined by 2pts to +9 index points. According to Mr Oster “The fall in confidence may reflect the turbulence seen in international financial markets in early February, but confidence remains above average suggesting that the impact was relatively limited”.
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- Monday, 12 March 2018
- Daily Fundamental Analysis
EUR/USD Daily Forecast - 13 March
There were no major data release from Eurozone yesterday. The dollar fell on Monday, pressured by data showing persistently low wages that will likely constrain the U.S. Federal Reserve from raising interest rates more than three times this year. Friday’s non-farm payrolls report showed U.S. job gains for February were much higher than expected, but wage inflation, a closely watched indicator by the Fed, remained subdued. “Mixed messages on America’s labour market last week largely offset and, importantly, failed to move the dial in favour of faster rate hikes from the Fed,” said Joe Manimbo, senior market analyst at Western Union Business Solutions in Washington.
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- Monday, 12 March 2018
- Daily Fundamental Analysis
GBP/USD Daily Forecast - 13 March
There were no major data releases from the UK yesterday. The European Union stepped up efforts on Monday to create a more unified and cheaper capital market by next year when it faces the loss of Britain, the bloc’s biggest financial center. The EU’s executive European Commission set out its latest plans for a “capital markets union” (CMU), a project initially focused on reducing heavy reliance of company funding on bank loans, but now made more pressing by Brexit. “By the time Brexit happens, the preconditions for a true single market for capital need to be in place,” European Commission Vice President Valdis Dombrovskis told a news conference. It is critical that EU states and the European Parliament get all measures “past the finishing line” ahead of elections for the EU assembly next year, Dombrovksis said. Read more...
- Monday, 12 March 2018
- Daily Fundamental Analysis
AUD/USD Daily Forecast - 13 March
There were no major data releases from Australia yesterday. Research from the Bank for International Settlements (BIS) suggests investors should be aware of warning signs in Australia’s credit markets. The BIS monitors a number of key data variables which can signal signs of financial stress, as part of efforts to prevent the next global financial crisis. The BIS is an international financial institution, jointly-owned by around 60 central banks. In terms of providing a useful indicator about signs of financial distress, “household sector DSRs perform especially well”, the BIS said. And by that measure, it’s little surprise that Australia falls on the riskier end of the spectrum — our household debt to disposable income ratio is among the highest in the world.
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