- Saturday, 28 July 2018
- Daily Technical Analysis
AUD/USD Daily Forecast - 30 July
The Australian dollar continues to be very noisy as we see a lot of volatility in the currency markets overall. I believe that the market will continue to be difficult to navigate at times, but the most important thing to pay attention to in the Australian dollar is that we have formed so many hammers over the last several weeks. The weekly chart certainly looks as if there is a ton of support underneath, so I think it’s only a matter of time before the market turns around. However, we need some type of good news to put more of a “risk on” attitude into this market plays, something that could happen in the trade war concerns. That would be the ideal situation for the Aussie dollar, as it tends to mirror what’s going on in China.
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- Saturday, 28 July 2018
- Daily Fundamental Analysis
EUR/USD Daily Forecast - 30 July
From Eurozone, on Friday, German Import Prices figures were released. As reported by the Federal Statistical Office (Destatis), the index of import prices increased by 4.8% in June 2018 compared with the corresponding month of the preceding year. In May and in April 2018 the annual rates of change were +3.2% and +0.6%, respectively. From May 2018 to June 2018 the index increased by 0.5%. The index of import prices, excluding crude oil and mineral oil products, increased by 1.9% compared with the level of a year earlier.
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- Saturday, 28 July 2018
- Daily Fundamental Analysis
GBP/USD Daily Forecast - 30 July
There were no major data releases from the UK on Friday. Michel Barnier has warned that attempts to appeal to EU leaders over his head were a waste of time as he rejected Theresa May’s proposals on customs after Brexit, in effect killing off the Chequers plan. On Friday Theresa May travels to Austria to meet Chancellor Sebastian Kurz and the Czech prime minister Andrej Babis, before heading off on her summer holiday. “Anyone who wants to find a sliver of difference between my mandate and what the heads of government say they want are wasting their time, quite frankly,” he told reporters at a joint press conference with the new Brexit secretary, Dominic Raab, in Brussels.
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- Saturday, 28 July 2018
- Daily Fundamental Analysis
AUD/USD Daily Forecast - 30 July
Friday’s session brought Australian PPI figures. Australian PPI rose 0.3% in the June quarter 2018. This was mainly due to rises in the prices received for Heavy and civil engineering construction (+1.5%), Building construction (+1.2%) and Petroleum refining and petroleum fuel manufacturing (+11.9%). Rise was partly offset by falls in the prices received for Other agriculture (-2.9%), Fishing (-18.9%) and Professional and scientific equipment manufacturing (-2.3%). PPI rose 1.5% through the year to the June quarter 2018.
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