GBP/USD Daily Forecast - 23 December

It was a steadier yesterday's session for Sterling, in which pound after initial uptrend fell to 1.56 handle by the end of the day. Concerns hovering over Eurozone economy also have impact on UK monetary policy so if it is to believe to the latest Governor Carney statements we cannot expect any rate hike before the second part of 2015. Initial part of the year will probably be marked by inflation risks, since CPI increased by only 1.0% last month. Industrial Production and GDP are still indicating stability, but BoE announced that we can expect downtrend in fourth quarter, what also makes traders cautious to British pound at the moment.

USD - Major events in the week ahead

Events that marked the week:

On Monday, Empire State Manufacturing Index and Industrial Production figures were released. The December 2014 Empire State Manufacturing Survey indicates that business activity declined for New York manufacturers. The headline general business conditions index dropped fourteen points to -3.6, its first negative reading in nearly two years. Analysts were anticipating incline to 12.1 points. The new orders index also fell into negative territory, tumbling eleven points to -2.0, and the shipments index fell to -0.2.

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AUD/USD Weekly Forecast - 08 December - 12 December

Events that marked the week:

From Australia, on Monday, quarterly company operating profits figures were released. In current prices, the trend estimate for company gross operating profits fell 2.7% this quarter. The seasonally adjusted estimate rose 0.5%. In current price terms, the trend estimate for wages and salaries rose 0.4%. The seasonally adjusted estimate rose 0.5%. Analysts were predicting 1.2% decrease.