Key events from Australia today - Westpac

Ross J Burland FXStreet

Analysts at Westpac picked put the key events from Australia today.

Key Quotes:

"Mar RBA meeting minutes are released. Key points of interest include their view around housing - given the slight change in the statement regarding supervisory measures and Bullock’s recent comments on financial stability; as well as the labour market – how the full-time/part-time switch pertains to underemployment and broader slack."

"Q4 ABS residential property price index previously rose 1.5% in Q3 with annual price growth slowing to 3.5%. Private sector measures have since registered Q4 price moves ranging from 3.5%qtr, 6.7%yr (APM), 1.8%qtr, 3.0%yr (Residex), and 2.1%qtr, 9.9%yr (CoreLogic). The ABS measure tends to track the APM series. As such we expect the ABS to show a robust 2.5% gain in Q4 lifting annual growth back towards 6%. More timely data shows the price acceleration has carried into early 2017 with Sydney and Melbourne leading the way."

Author

Ross J Burland

FXStreet

Ross J Burland, born in England, UK, is a sportsman at heart. He played Rugby and Judo for his county, Kent and the South East of England Rugby team.

EUR/USD flirts with daily highs, retargets 1.1900

EUR/USD regains upside traction, returning to the 1.1880 zone and refocusing its attention to the key 1.1900 barrier. The pair’s slight gains comes against the backdrop of a humble decline in the US Dollar as investors continue to assess the latest US CPI readings and the potential Fed’s rate path.

GBP/USD remains well bid around 1.3650

GBP/USD maintains its upside momentum in place, hovering around daily highs near 1.3650 and setting aside part of the recent three-day drop. Cable’s improved sentiment comes on the back of the Greenback’s irresolute price action, while recent hawkish comments from the BoE’s Pill also collaborate with the uptick.

Gold clings to gains just above $5,000/oz

Gold is reclaiming part of the ground lost on Wednesday’s marked decline, as bargain-hunters keep piling up and lifting prices past the key $5,000 per troy ounce. The precious metal’s move higher is also underpinned by the slight pullback in the US Dollar and declining US Treasury yields across the curve.

Crypto Today: Bitcoin, Ethereum, XRP in choppy price action, weighed down by falling institutional interest

Bitcoin's upside remains largely constrained amid weak technicals and declining institutional interest. Ethereum trades sideways above $1,900 support with the upside capped below $2,000 amid ETF outflows.

Week ahead – Data blitz, Fed Minutes and RBNZ decision in the spotlight

US GDP and PCE inflation are main highlights, plus the Fed minutes. UK and Japan have busy calendars too with focus on CPI. Flash PMIs for February will also be doing the rounds. RBNZ meets, is unlikely to follow RBA’s hawkish path.

Ripple Price Forecast: XRP potential bottom could be in sight

Ripple edges up above the intraday low of $1.35 at the time of writing on Friday amid mixed price actions across the crypto market. The remittance token failed to hold support at $1.40 the previous day, reflecting risk-off sentiment amid a decline in retail and institutional sentiment.