- Friday, 20 May 2016
- Weekly Fundamental Analysis
GBP/USD Weekly Forecast - 23 May – 27 May
Events that marked the week:
Tuesday's session brought UK CPI and PPI data. The Consumer Prices Index (CPI) rose by 0.3% in the year to April 2016, down from 0.5% in the year to March. Analysts were predicting 0.5% increase. From late 2015, the rate began to increase gradually from close to zero. The drop in April 2016 is the first fall since September 2015. Falls in air fares and prices for clothing, vehicles and social housing rent were the main contributors to the decrease in the rate. These downward pressures were partially offset by rising prices for motor fuels and for certain recreational goods and cultural services, and by food prices, which were unchanged between March and April 2016, having fallen between the same two months a year ago.
Read more...- Friday, 20 May 2016
- Weekly Fundamental Analysis
AUD/USD Weekly Forecast - 23 May – 27 May
Events that marked the week:
Focus of the Tuesday's session was on RBA Meeting Minutes. Australia's recent dip into deflationary territory is unlikely to have been a one off and could prompt further interest rate cuts this year, the Reserve Bank has signalled. According to the minutes from its May meeting, where the cash rate was cut to 1.75% on budget day, the RBA board was briefed about "ongoing inflation trends" and that the outlook could be lower for longer. Referring to the March CPI result where inflation went backwards by 0.2 per cent, the board was told that the data "were less subject to measurement error than many other key data series".
Read more...- Friday, 13 May 2016
- News
USD - Major events in the week ahead
Events that marked the week:
On Thursday Unemployment Claims figures were released. In the week ending May 7, the advance figure for seasonally adjusted initial claims was 294,000, an increase of 20,000 from the previous week's unrevised level of 274,000. Analysts were expecting smaller increase to 277,000. This is the highest level for initial claims since February 28, 2015 when it was 310,000. The 4-week moving average was 268,250, an increase of 10,250 from the previous week's unrevised average of 258,000. This marks 62 consecutive weeks of initial claims below 300,000, the longest streak since 1973.
Read more...- Friday, 13 May 2016
- Weekly Fundamental Analysis
EUR/USD Weekly Forecast - 16 May – 20 May
Events that marked the week:
From Eurozone, on Monday, only minor importance German Factory Orders data was published. Based on provisional data, the Federal Statistical Office (Destatis) reports that price-adjusted new orders in manufacturing had increased in March 2016 a seasonally and working-day adjusted 1.9% on February 2016. Analysts were predicting 0.7% increase. For February 2016, revision of the preliminary outcome resulted in a decrease of 0.8% compared with January 2016 (primary –1.2%). Price-adjusted new orders without major orders in manufacturing had decreased in March 2016 a seasonally and working-day adjusted 0.6% on February 2016. Read more...
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