OctaFX | OctaFX Forex Broker
Open trading account
Back

Australia: MIA consumer taints decent growth report - TDS

Australian Sep qtr GDP rose by +0.6%/qtr, marginally disappointing consensus but higher than TD’s post-trade forecast of +0.5%/qtr, explains the research team at TDS.

Key Quotes

“The AUD sank from $US0.761 to $US0.757 on the disappointment, but we remain medium -term AUD bulls as the underlying economy remains solid and the cash rate won’t remain at 1.5% forever.”

“After (upward) revisions, GDP expanded by 2.6% in 2016 (was 2.4%) and so our 2017 tracking is 2.3%. Our 2018 estimate is for marginally above-trend growth of 3%.”

“The RBA Board elected to keep the cash rate at 1.5%, and we see the Bank remaining on hold well into 2018.”

“After Oct retail sales yesterday (+0.5%/m) we turn to tomorrow’s Oct trade balance (TD +$A300m; mkt +$A1.4b). Our below-market trade forecast was shaped by the large jump in imports from China (Chinese exports to Australia surged).”

EU’s Dombrovskis: EC is ready to assist new members wanting to join the Euro – CNBC

CNBC reports that the European Commission (EC) Vice President Valdis Dombrovskis announced a package for completion of the economic and monetary union
Read more Previous

US Dollar steady near 93.30 ahead of ADP

The US Dollar Index (DXY) is struggling for direction on Wednesday and is currently navigating a narrow range in the 93.25/30 band. US Dollar now loo
Read more Next
Start livechat