- Tuesday, 27 February 2018
- Daily Fundamental Analysis
GBP/USD Daily Forecast - 28 February
There were no data releases from the UK yesterday. In the US session Durable Goods Orders and CB Consumer Confidence figures were released. Orders for business equipment at U.S. factories unexpectedly fell for a second month, a sign that demand is cooling from its hot pace in recent quarters, a Commerce Department report showed Tuesday. Non-military capital goods orders excluding aircraft declined 0.2% (est. up 0.5%) after falling 0.6% the prior month. Shipments of those goods, which are used to calculate gross domestic product, rose 0.1% (est. up 0.3%) after an upwardly revised 0.7% increase. Bookings for all durable goods, items meant to last at least three years, dropped 3.7% (est. 2% decline) following a downwardly revised 2.6% increase. Excluding transportation-equipment demand, which is volatile, orders fell 0.3% (est. up 0.4%) after rising 0.7%.
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- Tuesday, 27 February 2018
- Daily Fundamental Analysis
AUD/USD Daily Forecast - 28 February
There were no data releases from Australia yesterday. Australian house prices were steady last week, bucking the trend seen since late last year. As seen in the table below from CoreLogic, prices were flat across the country on an average weighted basis, including in Australia’s largest housing market, Sydney, which has led recent price declines. Read more...
- Monday, 26 February 2018
- Daily Fundamental Analysis
EUR/USD Daily Forecast - 27 February
There were no major data releases fron Eurozone yesterday. European Central Bank President Mario Draghi said Monday that the euro area economy is expanding robustly, but inflation is yet to show sustained signs of moving higher so patience with regard to monetary policy is still needed. In a statement to the European Parliament, Draghi said that growth is stronger than previously expected, but inflation has yet to show more convincing signs of a sustained upward adjustment. "While the strong momentum of the euro area economy has clearly strengthened our confidence in the inflation outlook, patience and persistence with regard to monetary policy is still needed for inflation to sustainably return to levels of below, but close to, 2%,” Draghi said. He said the relationship between growth and inflation remains largely intact, even if it was temporarily weakened.
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- Monday, 26 February 2018
- Daily Fundamental Analysis
GBP/USD Daily Forecast - 27 February
Yesterday, from the UK, high street lending figures were released. Card spending was 5.8 per cent higher than in January 2017, although higher repayment levels meant that the pace of borrowing saw little change, growing at 4.8 per cent annually. Gross mortgage lending in January is estimated to have been £13.8bn, 7.7 per cent more than a year earlier and slightly above the monthly average of £21.4bn for 2017. UK businesses' deposits grew by 7 per cent in the past 12 months, while borrowing over the same period contracted slightly by 1.4 per cent. Within business sectors, manufacturers' borrowing expanded modestly, while construction and property-related sectors contracted.
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