wrapper

There were no major data releases from Australia on Friday. "Reaction to the FOMC's more cautious tone and downshift in its 2016 interest rate projects has continued to weigh on the U.S. dollar," Commonwealth Bank of Australia senior currency strategist Elias Haddad said. U.S. dollar weakness helped boost key commodities overnight, supporting the local unit. However, a strong Aussie dollar could hurt the growing services and tourism sectors, but also the Reserve Bank of Australia's inflation forecasts, leading to expectations of a rate cut. "The RBA emphasized that inflation is likely to be the main driver of any further rate cuts in their minutes released on Tuesday," IG market analyst Angus Nicholson said.

In the US session Consumer Sentiment figures were released. Consumer confidence declined in the first half of March as lower-income Americans grew more concerned about prospects for the U.S. economy and higher gasoline prices. The University of Michigan’s preliminary sentiment index fell to a five-month low of 90 from to 91.7 in February. The median projection in a Bloomberg survey of economists called for 92.2. The group’s measures of year-ahead and longer-term inflation expectations picked up.

 

There will be no data releases from Australia on Monday. In the US session Existing Home Sales figures are scheduled for a release. Analysts are predicting decrease to 5.32 million.

 

Figures to watch:

 

Existing Home Sales (Monday 16:00)

About Us

Forex Web News is part of Rolling Capital Network providing financial consulting.

Within the Forex Web News we provide our readers with expert and timely technical analyses, fundamental analyses and news; with one aim – for our readers to make best possible financial decisions.

Forex Web News desks and analysis department follow the international markets closely and create high quality proprietary content on a both daily and weekly basis.

.

All our analysts have several years of trading and analysis experience. The Forex Web News analysis team creates daily and weekly analyses and offer forecasts regarding where they believe the markets are heading. Our readers are provided with data displayed both in texts and on graphs, providing them the fullest understanding of what is happening in the market place.

We are constantly growing our news desks and our analysis departments as we strive to broaden the content we provide to visitors of the Forex Web News.

Disclaimer

Rolling-capital.com – The company, employees, subsidiaries and associates, are not liable nor shall they be held liable jointly or severally for any loss or damage as a result of reliance on the information provided on this website. The data contained in this website is not necessarily provided in real-time nor is it necessarily accurate. All prices herein are provided by market makers and not by exchanges. As such prices may not be accurate and they may differ from the actual market price. rolling-capital.com bears no responsibility for any trading losses you might incur as a result of using any data within the Forex Web News.