Monday 24-04-2017 Outlook
April 24, 2017 7:48 amVideo
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Welcome to the easyMarkets weekly outlook starting this Monday 24 April. We’ll be looking at the week’s key economic events on the financial calendar covering Monday to Thursday. Following the French presidential election on Saturday, the week beginning 24 April is packed full of data announcements. Here are some of the key ones on the financial calendar.
Following last week’s disappointing Housing Starts data, on Tuesday we see the release of New Home Sales for March. February’s figure of 0.592 million was a 6.1% improvement on the previous month pointing to an improving housing industry for the US. The release on Tuesday may be followed closely by dollar bulls as more new home buyers mean more spending on furnishings and financing which stimulates the economy and the greenback.
Event: Australian Inflation Data
The Australian Bureau of Statistics will be releasing the Consumer Price Index for the first quarter of this year. This is a big inflation indicator as it represents the change in price amongst a representative sample of goods and services. Last quarter’s change was just 0.5% so the Reserve Bank of Australia will surely be watching to see for any improvements on this latest quarter.
Following on the heels of the French election will be the region’s first interest rate decision taking into account any fallout from the event. The rate is currently sitting on 0% and analysts’ are not expecting to see much change to that. Inflation data has been at satisfactory levels for the ECBs monetary policies at just under 2% and last week also saw positive trade balance data, so any change to the rate may come as a surprise to most.
Durable Goods Orders for February saw a 1.7% increase from the previous month according to the US Census Bureau. A number of other key indicators on the state of the US economy have come in positively recently with both building permits and jobs data signalling a growing economy. Thursday’s Durable Goods Orders are another key indicator to the state of the nation’s economy as it measures manufacturers’ cost of orders for durable goods that last for three or more years (e.g. cars, machinery etc.). Due to the large investment required for these items, the final figure indicates production activity and a higher than expected reading may be good for the USD.
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Source: Easy Forex Forex.Info
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