- Friday, 28 July 2017
- Weekly Fundamental Analysis
EUR/USD Weekly Forecast – 31 July – 04 August
Events that marked the week:
Monday's session brought French and German PMI figures were released. French private sector activity slowed slightly in July, pulling further back from May’s six-year peak but still pointed to a solid start to the second half of the year for the euro zone’s number two economy according to data released on Monday. The preliminary reading of the Markit services purchasing managers’ index came in at 55.9 this month down from 56.9 in June. Economists had forecast an uptick to 56.7. The manufacturing PMI rose to 55.4, compared to expectations for 54.6 and up from 54.8 a month earlier. The composite output index, which measures the combined output of both the manufacturing and service sectors ticked down to 55.7 from 56.6, falling short of expectations for 56.4.
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- Friday, 28 July 2017
- Weekly Fundamental Analysis
GBP/USD Weekly Forecast – 31 July – 04 August
Events that marked the week:
Wednesday's session brought UK GDP figures. UK gross domestic product (GDP) was estimated to have increased by 0.3% in Quarter 2 (Apr to June) 2017. The growth in Quarter 2 2017 was driven by services, which grew by 0.5% compared with 0.1% growth in Quarter 1 (Jan to Mar) 2017. The largest contributors to growth in services were retail trade, which improved after a fall in the first quarter, and film production and distribution. Construction and manufacturing were the largest downward pulls on quarterly GDP growth, following 2 consecutive quarters of growth. GDP per head was estimated to have increased by 0.1% during Quarter 2 2017.
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- Friday, 28 July 2017
- Weekly Fundamental Analysis
AUD/USD Weekly Forecast – 31 July – 04 August
Events that marked the week:
Focus of Wednesday's session was on Australian CPI figures. Australian CPI rose 0.2% this quarter, compared with a rise of 0.5% in the March quarter 2017. It rose 1.9% over the twelve months to the June quarter 2017, compared with a rise of 2.1% over the twelve months to the March quarter 2017. The most significant price rises this quarter are medical and hospital services (+4.1%), new dwelling purchase by owner-occupiers (+0.9%), tobacco (+1.0%) and beer (+1.0%). The most significant offsetting price falls this quarter are domestic holiday travel and accommodation (-3.2%), automotive fuel (-2.5%) and fruit (-4.4%).
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- Friday, 21 July 2017
- Weekly Fundamental Analysis
EUR/USD Weekly Forecast – 24 July – 28 July
Events that marked the week:
From Eurozone, on Monday, Final CPI figures were released. Euro area annual inflation was 1.3% in June 2017, down from 1.4% in May. In June 2016 the rate was 0.1%. European Union annual inflation was 1.4% in June 2017, down from 1.6% in May. A year earlier the rate was 0.1%. These figures come from Eurostat, the statistical office of the European Union. The largest upward impacts to the euro area annual inflation came from accommodation services (+0.08 percentage points), package holidays (+0.06 pp) and tobacco (+0.04 pp), while telecommunication (-0.10 pp), social protection (-0.04 pp) and bread & cereals (-0.03 pp) had the biggest downward impacts.
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