- Saturday, 10 December 2016
- Weekly Fundamental Analysis
GBP/USD Weekly Forecast – 12 December – 16 December
Events that marked the week:
Monday brought UK Services PMI data. The rate of expansion of total activity accelerated further to the strongest since January. Employment growth picked up to the fastest since April, partly fuelled by the sharpest build-up of outstanding work since July 2015. The strength of long-term business sentiment weakened for the first time since July, however, attributed to ongoing political uncertainty and inflationary pressures. The Index remained above 50.0 for the fourth consecutive month in November, indicating a continued recovery in growth following a contraction in July linked to the EU referendum. Moreover, the Index rose to 55.2, from 54.5, signalling the fastest expansion since January. The rate of growth was broadly in line with the 20-year long-run survey average.
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- Saturday, 10 December 2016
- Weekly Fundamental Analysis
AUD/USD Weekly Forecast – 12 December – 16 December
Events that marked the week:
Tuesday's session was marked by RBA interest rate decision and the following statement. Taking account of the available information, and having eased monetary policy earlier in the year, the Board judged that holding the stance of policy unchanged at this meeting would be consistent with sustainable growth in the economy and achieving the inflation target over time. Inflation remains quite low. The continuing subdued growth in labour costs means that inflation is expected to remain low for some time, before returning to more normal levels.cLow interest rates have been supporting domestic demand and the lower exchange rate since 2013 has been helping the traded sector.
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- Sunday, 04 December 2016
- Weekly Fundamental Analysis
EUR/USD Weekly Forecast – 05 December – 09 December
Events that marked the week:
From Eurozone, on Monday, M3 Money Supply figures were published. The annual growth rate of the broad monetary aggregate M3 decreased to 4.4% in October 2016, from 5.1% in September, averaging 4.8% in the three months up to October. The components of M3 showed the following developments. The annual growth rate of the narrower aggregate, including currency in circulation and overnight deposits (M1), decreased to 7.9% in October, from 8.4% in September. The annual growth rate of short-term deposits other than overnight deposits (M2-M1) was more negative at -1.5% in October, from -1.0% in September. The annual growth rate of marketable instruments (M3-M2) decreased to 1.7% in October, from 5.5% in September.
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- Sunday, 04 December 2016
- Weekly Fundamental Analysis
GBP/USD Weekly Forecast – 05 December – 09 December
Events that marked the week:
Tuesday's session was marked by Net Lending to Individuals figures. Total lending to individuals increased by £4.9 billion in October, compared to an average monthly increase of £4.2 billion over the previous six months. The three-month annualised and twelve-month growth rates were 3.9% and 4.0% respectively. Lending secured on dwellings increased by £3.3 billion in October, compared to an average monthly increase of £2.6 billion over the previous six months. The three-month annualised and twelve-month growth rates were 3.0% and 3.1% respectively. Gross lending secured on dwellings was £19.9 billion and repayments were £17.2 billion.
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