Global macro overview for 31/07/2015:
The PPI data published yesterday was better than expected with the main index at the level of 0.3% q/q (1.1%y/y) in the second quarter against 0.2% q/q in the previous one. Nevertheless, the other data were not so good as anticipated with bushiness confidence falling to -15.3 from -2.6 a month before and declining private sector credit reading (0.4% m/m vs. 0.5% m/m). This new set of data might be important for RBA to consider another rate cut at the nearest meeting.
Despite yesterday's higher-than-expected data from the Australian economy, the AUD/USD pair is likely to close the month at its lows. A new, six-year low, monthly close below the 0.7300 is expected after a brakeout below the important support at the level of 0.7371.
For detail explanation and best discovery on daily market trends and news you may visit via Global macro overview for 31/07/2015 . Thanks for your support.
No comments:
Post a Comment