- Saturday, 03 March 2018
- Daily Fundamental Analysis
GBP/USD Daily Forecast - 05 March
Friday's session brought UK Construction PMI figures. At the same time, strong input cost pressures were reported in February, with higher raw material prices, fuel bills and staff wages reported by survey respondents. At 51.4 in February, the seasonally adjusted IHS Markit/CIPS UK Construction Purchasing Managers’ Index® (PMI®) edged up from January’s four-month low of 50.2. This signalled a marginal increase in construction output during February, with the index also weaker than seen on average in 2017 (52.3).
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- Saturday, 03 March 2018
- Daily Fundamental Analysis
AUD/USD Daily Forecast - 05 March
On Friday, from Australia, home sales figures were released. Following a relatively strong finish to 2017, detached house sales pulled back in January this year, declining by 2.1 per cent in the month. This result was due to a decline in sales in both New South Wales and Victoria, while the remaining mainland states each enjoyed increases in January. The HIA New Home Sales report – a monthly survey of the largest volume home builders in the five largest states – provides an early indication of trends in the residential building industry. The most encouraging news this month, is that new home sales in Western Australia picked-up by 1.2 per cent.
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- Thursday, 01 March 2018
- Daily Fundamental Analysis
EUR/USD Daily Forecast - 02 March
Yesterday, from Eurozone, Spanish Manufacturing PMI figures were released. Growth momentum in the Spanish manufacturing sector improved in February, with both output and new orders rising at faster rates than at the start of the year. Linked to this were further sharp increases in employment and purchasing activity. Meanwhile, higher raw material costs resulted in a further sharp increase in input prices, with output charges also continuing to rise. At 56.0 in February, the PMI was at a level indicative of a strong monthly improvement in the health of the manufacturing sector. Moreover, the index rose from 55.2 in January and signalled the most marked strengthening of business conditions in three months.
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- Thursday, 01 March 2018
- Daily Fundamental Analysis
GBP/USD Daily Forecast - 02 March
Yesterday's session was marked by UK Manufacturing PMI figures. The upturn in the UK manufacturing sector slowed further during February. At 55.2, the seasonally adjusted IHS Markit/CIPS Purchasing Managers’ Index® (PMI®) fell to an eight month low and lost further ground after hitting a 51-month high last November. Manufacturing production increased at the slowest pace for 11 months in February, with decelerations seen across the consumer, intermediate and investment goods sectors.
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