- Tuesday, 20 February 2018
- Daily Fundamental Analysis
AUD/USD Daily Forecast - 21 February
From Australia, yesterday, RBA Meeting Minutes were released. Early morning session brought RBA Meeting Minutes. Over 2017, progress had been made in reducing the unemployment rate and bringing inflation closer to target. The low level of interest rates was continuing to play a role in achieving this outcome. Further progress on these goals was expected over the period ahead but the increase in inflation was likely to occur only gradually as the economy strengthened; the Bank's central forecast for the Australian economy was for GDP growth to pick up to average a little above 3 per cent over the next two years and for CPI inflation to be a little above 2 per cent in 2018.
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- Tuesday, 20 February 2018
- Daily Fundamental Analysis
EUR/USD Daily Forecast - 20 February
Yesterday, from Eurozone, Current Account figures were released. The current account of the euro area recorded a surplus of €29.9 billion in December 2017. This reflected surpluses for goods (€30.9 billion), services (€7.3 billion) and primary income (€3.7 billion), which were partly offset by a deficit for secondary income (€12.0 billion). According to the preliminary results for 2017 as a whole, the current account recorded a surplus of €391.4 billion (3.5% of euro area GDP), compared with one of €367.6 billion (3.4% of euro area GDP) in 2016.
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- Tuesday, 20 February 2018
- Daily Fundamental Analysis
GBP/USD Daily Forecast - 20 February
There were no major data releases from the UK yesterday. The average price of a UK property coming on to the market has risen by more than £2,400 in a month to just over £300,000 amid evidence of “record” levels of house-hunting activity, according to Rightmove. The website, which tracks 90% of the UK property market, said the national average asking price for a home had increased by 0.8% during the past month, following the 0.7% rise it reported in mid-January.
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- Tuesday, 20 February 2018
- Daily Fundamental Analysis
AUD/USD Daily Forecast - 20 February
There were no major data releases from Australia yesterday. While Australian auction clearance rates appear to be rebounding, led by a noticeable improvement in Sydney, that’s yet to have a meaningful impact on prices which continued to fall last week. According to CoreLogic, the prices across Australia’s five mainland state capitals fell by 0.1% last week in average weighted terms, taking the decline over the past month to 0.4%. In contrast to auction clearance rates which had Sydney at the top of the charts based off preliminary data, the national decline was yet again led by Australia’s largest and most expensive housing market where prices fell by a further 0.2% during the week. Read more...
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