The outlook for growth in the world economy has softened over recent months, with estimates for global GDP being edged down, and risks to the outlook still seen to be on the downside. Economic activity in Europe is contracting, while growth in the United States remains modest. Growth in China has also slowed, and uncertainty about near-term prospects is greater than it was some months ago. Around Asia generally, growth is being dampened by the more moderate Chinese expansion and the weakness in Europe.
RBA complete statement available on their website [here].
Next week is earning week, beginning with Alcoa, and some analyst will be watching earning number to get a fell of next move. If earning comes below expectation, everyone is going to sell stocks and its gonna be a risk-off in Forex.
Major events this week are ADP tomorrow, ISM services Thursday and non-farm payroll on Friday. For this week trading keep your positions small.
No comments:
Post a Comment