Analysis and Recommendation: The AUD/USD tumbled 14 points to 0.7186 after retail sales printed much lower than expected. The total value of retail sales
The AUD/USD tumbled 14 points to 0.7186 after retail sales printed much lower than expected. The total value of retail sales in Australia was flat in December on a seasonally adjusted basis, the Australian Bureau of Statistics said on Friday, worth A$24.759 billion.
That missed forecasts for an increase of 0.4 percent, which would have been unchanged from the November reading. For the fourth quarter of 2015, retail sales added 0.6 percent to A$72.062 billion.
That also missed expectations for an increase of 0.9 percent, although it was unchanged from the three months prior.
The construction sector in Australia remained in contraction in January, the latest survey from the Australian Industry Group revealed on Friday with a PMI score of 46.3. That’s down from 46.8 in December, and it moves farther beneath the boom-or-bust line of 50 that separates expansion from contraction. Among the individual components of the survey, apartment building, commercial construction and engineering construction all contracted – while house building expanded for the second straight month.
The Australian dollar dropped as much as 0.3 per cent to 0.7176 following the data, but this response may have been complicated by the simultaneous release of the Reserve Bank of Australia’s Statement on Monetary Policy, where the central bank has trimmed its 2017 GDP forecast by 0.25 percentage points and guided towards lower inflation by the end of June this year.
FxEmpire provides in-depth analysis for each asset we review. Fundamental analysis is provided in three components. We provide a detailed monthly analysis and forecast at the beginning of each month. Then we provide more up to the data analysis and information in our weekly reports, which covers the current week and are published by Sunday before the new week begins. Daily we share any new events, forecasts or analysis that affect the current day. To achieve a full accurate understanding it is important that you study all of our data and analysis as a whole.
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Monday, February 8, 2016
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Holiday | New Zealand – Waitangi (Observed) | ||||||
Holiday | China – Lunar New Year |
Government Bond Auctions
Date Time and Country
Feb 08 16:20 Italy Details of bond auction
Feb 09 11:00 Netherlands Holds DSL auction
Feb 09 11:00 Austria Holds bond auction
Feb 09 11:30 Germany Holds I/L bond auction
Feb 09 11:30 UK 0.125% 2026 Gilt linker auction
Feb 09 n/a UK Details of Gilt auction on Feb 17
Feb 09 19:00 US Holds 3-year note auction
Feb 10 11:30 Germany Euro 5bn Mar 2018 Schatz
Feb 10 17:20 Sweden Details of bond auction on Feb 17
Feb 10 19:00 US Holds 10-year note auction
Feb 11 N/A Italy Euro 4-5bn 30-yr syndicated bond auction
Feb 11 11:03 Sweden Holds I/L bond auction
Feb 11 11:10 Italy Announces details of bond auction
Feb 11 11:30 UK 3.5% 2045 Gilt auction
Feb 11 19:00 US Holds 30-year bond auction
Feb 11 n/a US Details of 30-yr TIPS auction on Feb 18
Feb 12 11:10 France Details of bond auction on 18 Feb