- Friday, 06 May 2016
- Weekly Fundamental Analysis
AUD/USD Weekly Forecast - 09 May – 13 May
Events that marked the week:
From Australia, on Monday, NAB Business Confidence data was released. "Even though business conditions eased this month, they have remained well above average levels for the past year", said Alan Oster, Chief Economist. According to Mr Oster, "with consistently good results like these from our survey it is difficult not to have a degree of confidence in the near-term outlook". Business confidence was somewhat resilient to the fall in conditions, but ebbed lower in the month. The confidence index eased 1 point to +5 index points in April, but this was marginally below the long-run average for the series. According to Mr Oster, "confidence remains crucial to the outlook, but this was still a reasonable outcome given the added uncertainties around the global economy and the upcoming Federal Budget and election".
Read more...- Friday, 29 April 2016
- Weekly Fundamental Analysis
EUR/USD Weekly Forecast - 02 May – 06 May
Events that marked the week:
Monday brought German Business Confidence data. German business confidence unexpectedly deteriorated in the latest sign that Europe’s largest economy is losing some of its pace. The Munich-based Ifo institute’s business climate index fell to 106.6 in April from 106.7 the previous month. The median estimate in a Bloomberg survey of economists was for an increase to 107.1. The Bundesbank said last week that it sees slowing momentum in the economy this quarter after a strong expansion in the first three months of the year. Global headwinds remain a concern even though the economy in China, Germany’s third-biggest trading partner, is showing signs of a steadiness after a slowdown caused ructions in international markets last year.
Read more...- Friday, 29 April 2016
- Weekly Fundamental Analysis
GBP/USD Weekly Forecast - 02 May – 06 May
Events that marked the week:
Wednesday was marked by UK GDP figures. GDP is estimated to have increased by 0.4% in Quarter 1 (Jan to Mar) 2016 compared with growth of 0.6% in Quarter 4 (Oct to Dec) 2015. This was in line with market predictions. Output increased in services by 0.6% in Quarter 1 (Jan to Mar) 2016. The other 3 main industrial groupings within the economy decreased, with production falling by 0.4%, construction output by 0.9% and agriculture by 0.1%.
Read more...- Friday, 29 April 2016
- Weekly Fundamental Analysis
AUD/USD Weekly Forecast - 02 May – 06 May
Events that marked the week:
Wednesday brought Australian CPI data. CPI fell 0.2% this quarter, compared with a rise of 0.4% last quarter. Analysts were anticipating 0.3% increase. CPI rose 1.3% over the twelve months to the March quarter 2016, compared with a rise of 1.7% over the twelve months to the December quarter 2015. The most significant price falls this quarter are automotive fuel (-10.0%), fruit (-11.1%) and international holiday travel and accommodation (-2.0%). The most significant offsetting price rises this quarter are secondary education (+4.6%), medical and hospital services (+1.6%) and pharmaceutical products (+4.8%).
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