The absence of critical statistics from the EU today is likely to lead to a return of investors’ focus on the economic prospects of the US and eurozone economies, as well as on the May indicators of the US inflation rate. In addition, Australian business statistics may affect future investor sentiment for the Australian dollar. This morning statistics from Australia was published, which in the near future can seriously affect the rate of the national currency, as well as the financial and credit policy of the RBA. The NAB business confidence...
Following yesterday’s UK GDP report for April which saw the economy contract by 0.4% monthly, forex traders will keep a close eye on today’s employment data. Despite yesterday’s mix of disappointing UK economic data, which also featured industrial and manufacturing production as well as construction data posting monthly declines, the British Pound remained stable at solid support levels. Will this trend continue and allow bulls to power the GBPUSD to the upside? Besides the key employment report, Bank of England MPC member Tenreyro will speak...
After UK Prime Minister May stepped aside last Friday, the battle to replace her is in full swing. Her divided Tory party will now need to narrow the field to two candidates, with former London Mayor and former Foreign Secretary as well as key Brexit figure Boris Johnson in the lead. How will the British Pound perform as the the next leader will be a Brexiteer who is not afraid of a no-deal Brexit? Forex traders will get key UK economic data today which will feature April’s GDP figure as well as a reading on industrial and manufacturing...
The economic calendar was pretty calm during today's Asian session. The April data on household spending in Japan set, albeit not strongly, the direction of the market early in the morning. Later, data on mortgage loans in Australia could no longer have a significant impact, as the markets today are almost entirely focused on the upcoming release of labor statistics from the United States. Our NFP forecast> In Japan, household spending in April decreased by 1.4% compared with the previous month, which was much worse than the...
The Australian construction sector continues to contract, partially due to seasonality. The ongoing slowdown has resulted in a slump in demand for home loans while investment lending also contracted. On the bright side, the value of loans increased. The Australian Dollar is in the middle of a price action recovery from depressed levels and the interest rate cut by the RBA added to bullish sentiment in a rare contrarian effect. Today’s fundamental analysis will take a look at will impact the AUDUSD currency pair. Here are the key factors to...
