- Friday, 05 May 2017
- Weekly Fundamental Analysis
GBP/USD Weekly Forecast – 08 May – 12 May
Events that marked the week:
Tuesday's session brought UK Manufacturing PMI figures. The start of the second quarter saw a solid improvement in the performance of the UK manufacturing sector. Rates of expansion in output, total new orders and new export work all gathered pace, underpinned by robust business confidence and driving further job creation. The seasonally adjusted Markit/CIPS Purchasing Managers’ Index® (PMI® ) rose to a three-year high of 57.3 in April, up from March’s four-month low of 54.2. Survey data were collected 11-25 April. The PMI has signalled expansion for nine months in a row. The last time the PMI registered below its no-change mark was July 2016, the month following the EU referendum result.
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- Friday, 05 May 2017
- Weekly Fundamental Analysis
AUD/USD Weekly Forecast – 08 May – 12 May
Events that marked the week:
Focus of Tuesday's session was on RBA interest rate decision and the following statement. At its meeting yesterday, the Board decided to leave the cash rate unchanged at 1.50 per cent. In the following Statement the Board stated that inflation picked up to above 2 per cent in the March quarter in line with the Bank’s expectations. In underlying terms, inflation is running at around 1¾ per cent, a little higher than last year. A gradual further increase in underlying inflation is expected as the economy strengthens. Taking account of the available information, the Board judged that holding the stance of monetary policy unchanged at this meeting would be consistent with sustainable growth in the economy and achieving the inflation target over time.
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- Friday, 05 May 2017
- News
USD - Major events in the week ahead
Events that marked the week:
On Monday Manufacturing PMI figures were released. The April PMI registered 54.8 percent, a decrease of 2.4 percentage points from the March reading of 57.2 percent. The New Orders Index registered 57.5 percent, a decrease of 7 percentage points from the March reading of 64.5 percent. The Production Index registered 58.6 percent, 1 percentage point higher than the March reading of 57.6 percent. The Employment Index registered 52 percent, a decrease of 6.9 percentage points from the March reading of 58.9 percent. Inventories of raw materials registered 51 percent, an increase of 2 percentage points from the March reading of 49 percent.
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- Friday, 28 April 2017
- Weekly Fundamental Analysis
EUR/USD Weekly Forecast – 01 May – 05 May
Events that marked the week:
Main market mover in the course of the Monday's session were the results of the French presidential elections. French voters face two radically different visions of the country’s future after centrist Emmanuel Macron and far-right nationalist Marine Le Pen won the first round of the French presidential election, triggering a runoff on May 7. Macron, a first-time candidate and political independent, had 23.8 percent in Sunday’s election and National Front leader Le Pen had 21.5 percent, according to results from the Interior Ministry based on 97.4 percent of votes counted.
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