- Saturday, 03 February 2018
- Weekly Fundamental Analysis
AUD/USD Weekly Forecast - 05 February - 09 February
Events that marked the week:
Wednesday's session was marked by Australian CPI figures. Australian CPI rose 0.6% this quarter, compared with a rise of 0.6% in the September quarter 2017. It rose 1.9% over the twelve months to the December quarter 2017, compared with a rise of 1.8% over the twelve months to the September quarter 2017. The most significant price rises this quarter are automotive fuel (+10.4%), tobacco (+8.5%), domestic holiday travel and accommodation (+6.3%) and fruit (+9.3%). The most significant offsetting price falls this quarter are international holiday travel and accommodation (-1.7%), audio visual and computing equipment (-3.5%), and telecommunication equipment and services (-1.4%).
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- Saturday, 03 February 2018
- News
USD - Major events in the week ahead
Events that marked the week:
On Wednesday ADP job figures were released. Private sector employment increased by 234,000 jobs from December to January according to the January ADP National Employment Report. “We’ve kicked off the year with another month of unyielding job gains,” said Ahu Yildirmaz, vice president and co-head of the ADP Research Institute. “Service providers were firing on all cylinders, posting their strongest gain in more than a year. We also saw robust hiring from midsize and large companies, while job growth in smaller firms slowed slightly.” Read more...
- Friday, 26 January 2018
- Weekly Fundamental Analysis
AUD/USD Weekly Forecast – 29 January – 02 February
Events that marked the week:
There were no data releases from Australia last week. The Australian Dollar has moved to test the highs set in 2017 as expected but technical positioning has started to warn of a possible reversal in the works. Negative RSI divergence points to ebbing upside momentum, hinting that buyers may be rejected near the 0.81 figure once again. Near-term support is at 0.7978, the 76.4% Fibonacci expansion. A turn below this barrier would mark a break of the uptrend from mid-December lows and expose the 61.8% level at 0.7887. Alternatively, a daily close above the 23.6% Fib expansion at 0.8081 targets the 38.2% threshold at 0.8159.
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- Friday, 26 January 2018
- News
USD - Major events in the week ahead
Events that marked the week:
On Wednesday Existing Home Sales data was published. Existing home sales declined 3.6 percent to a seasonally adjusted annual rate of 5.57 million units last month amid decreases in all four regions. Unseasonably cold weather probably accounted for some of the weakness as sales in the Northeast and Midwest fell sharply. November’s sales pace was revised down to 5.78 million units, still the highest level since February 2007. Economists polled by Reuters had forecast home sales falling 2.2 percent to a 5.70 million-unit rate in December from a previously reported 5.81 million-unit pace in November.
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