Australia’s economic data of the latest week were mixed. Retail sales rose in June, trade surplus declined more than expected, business confidence rose in August while remaining very weak, though consumer confidence improved. Thus, retail sales rose 3.2% over month in July after 2.7% growth in June, the Melbourne Institute and Westpac Bank Consumer Sentiment Index for Australia rose 18% over month to 93.8 in September after a 9.5% fall a month earlier. At the same time business confidence remained fragile despite a National Australia Bank index’s increase to -8 in August from -14 in the previous month. And the trade surplus declined to A$4.6 billion in July from A$8.1 billion in June when a decline to A$5 billion was forecast. Mixed Australian economic data are bearish for AU200.
| Indicator | VALUE | Signal |
|---|---|---|
| RSI | Neutral | |
| MACD | Sell | |
| Donchian Channel | Sell | |
| MA(200) | Sell | |
| Fractals | Sell | |
| Parabolic SAR | Sell | |
| Fibonacci | Neutral |
| Order | Sell |
| Buy stop | Below 5815.27 |
| Stop loss | Above 6123.13 |
Market Analysis provided by IFCMarkets.com
By Christopher Decker, University of Nebraska Omaha The Federal Reserve held interest rates steady at…
By JustMarkets At Tuesday's close, the Dow Jones Index (US30) added 0.23%, while the S&P 500 Index (US500) was…
By RoboForex Analytical Department Brent crude oil prices have dropped to $83.95 per barrel on…
By ForexTime USDJPY sees over 700-pip swing Copper selloff rewards bears EURCAD hits all bearish targets…
By Selcuk Uluagac, Florida International University You probably know better than to click on links…
By Denisa Mindruta, HEC Paris Business School “This isn’t mine; this is one for the…
This website uses cookies.