NZDCHF triangle formation should be completed soon
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james16 Chart Thread
a chart that i was interested today was CAD/JPY; we have a box situation in h1 but the market didn't offer us a PA (aleast for me; the BUOB that i marked with a arrow under was a preemptive bar maybe ?); the projection of this box is around 86.40 which is a area on D1 where i want to see price action to short this pair
- #138,729
- Edited 3:00pm Mar 6, 2016 2:40pm | Edited 3:00pm
- | Joined Feb 2012 | Status: Trader | 575 Posts
USD NOK is breaking a channel since June 2015 {image}
AUD/USD has formed a BUOB on W1 which break the box. I think the only way to play this bar is a retrace on 0.738-0.74 FTA is 0.744, but i also remember that Mike said on EUR/GBP W1 which also formed a BUOB and break the box that the BOUB which close near/ at the high can be a sign of reversal. Mike what do you think about this?
- #138,735
- Mar 7, 2016 10:11am Mar 7, 2016 10:11am
- Joined Sep 2006 | Status: Trader | 10,704 Posts
every Saint has a past. Every Sinner has a Future
{quote} Instead of hi-jacking this thread to advertise your wares, you could at least make the effort to explain your trades in the style Jim or Mike does !! Or-start your own thread.
I will copy and post some about Australias Economy. You can read more about aud on babypips.com Growth:
- Quarter-on-quarter, GDP only grew by 0.6% in Q4, which is much slower than Q3s 1.1% (revised higher from 0.9%).
- Year-on-year, GDP grew by 3.0% in Q4, which is faster than Q3s 2.7% (revised higher from 2.5%).
- This marks the second consecutive quarter that GDP has been growing faster on a year-on-year basis.
- This is also the fastest year-on-year expansion in seven quarters
- Household spending was still the backbone of Australias economy, expanding further by 0.8% (0.7% previous) and adding 0.4% to GDP growth, which is the same contribution as in Q3 2015.
- Private investment in non-residential buildings continued to drop (-7.0% vs. -5.3% previous), reflecting the slowdown in mining-related investment.
- The contraction in spending on non-residential buildings is also the biggest drag, subtracting 0.5% from GDP growth (0.4% previous).
- Investment on machinery and equipment did see a 1.6% increase (-4.6% previous), though, adding 0.1% to GDP growth (-0.2% previous).
- Exports and imports both grew by 0.6%. They also effectively canceled each other out.
- Regarding specific industries, mining continued to grow (surprisingly enough), expanding by 1.1% after growing by 4.1% back in Q3, and adding 0.1% to GDP growth (0.4% previous).
- Manufacturing slumped harder, however, (-2.1% vs. -0.9% previous), subtracting 0.1% from GDP growth.
Inflation:
- Q4 2015 CPI advanced by 0.4% quarter-on-quarter, slightly slower than Q3s 0.5%.
- This marks the second consecutive quarter that CPI has been increasing at a lower rate.
- Year-on-year, CPI grew by 1.7%, which is a bit faster than the previous quarters 1.5%.
- This is still a few ticks away from the RBAs target of 2.0% 3.0%.
- The core reading climbed higher for the second straight quarter (2.1% vs. 2.2% previous).
- One of the main contributors to the quarter-on-quarter reading was the 2.7% increase in the cost of alcohol and tobacco products
- The cost of alcohol and tobacco products is being artifically boosted by an inrease in the federal excise tax effective from 1 September 2015.
- The transport group was one of the main drags, printing a 1.4% decline after a 0.1% rise back in Q3. This was due mostly due to the 5.7% decline in the cost of automotive fuel (-1.7% previous).
- Year-on-year, rising alcohol and tobacco prices are still the main drivers (6.0% vs. 5.0% previous).
- The communication group was the main drag on a yearly basis (-6.3% vs -4.1% previous), although the transport group is still in negative territory (-1.4% vs. -2.2% previous).
Employment:
- The seasonally-adjusted unemployment rate unexpected during the January period unexpectedly jumped from 5.8% to 6.0%.
- The labor force participation rate held steady at 65.2%, but the number of unemployed climbed by 30,200 to 761,400.
- The Australian economy had a net loss of 7,900 jobs.
40,600 full-time jobs were lost, but this was partially offset by a gain of 32,700 part-time jobs. - This is the largest loss of full-time jobs in just over two years.
- This doesnt bode well for Australias economy since full-time jobs generally offer more pay and security than part-time jobs.
Consumer Sentiment & Spending:
- Retail trade turnover in Australia increased by 0.3 month-on-month during January after stagnating during the previous month.
- On a year-on-year basis, retail trade turnover increased by 4.0% in January 2016, the same pace as in December 2015.
- Household goods store (1.0% vs. -1.0% previous), cafes, restaurants and takeway food services (0.1% vs. -0.5% previous), as well as clothing and footwear stores (1.0% vs. 1.1% previous) and other retail stores (1.4% vs. -0.9% previous) reported increases.
- Food retailers (-0.2% vs. 0.8% previous) and department stores (-1.3% vs. 0.1% previous) reported fewer sales.
- The Westpac Melbourne Institute Index of Consumer Sentiment for the February period advanced by 4.2% to 101.3 from 97.3.
- The improvement in consumer sentiment was due to improved financial expectations, with the recent drop in oil prices providing a decent boost to disposable incomes.
Business Conditions & Sentiment:
- The National Australia Banks (NAB) business confidence index held steady at 2 points during January, but confidence in the mining sector continued to deteriorate.
- Surprisingly, business confidence in retail trade also took a hit, but higher business confidence in finance, property development, and business services easily offset the downbeat sentiment from retail and mining.
- The NAB business conditions index eased even further from 6 points to 5, with the deterioration being largely centered on Western and South Australia where the mining slowdown has the biggest impact.
- Business conditions in the service sector continue to be robust, with the exception of retail.
- The Australian Industry Groups (AIG) performance of manufacturing index (PMI) for February climbed to 53.5, which is the strongest reading since July 2010.
- PMI has been above the 50.0 stagnation level for eight consecutive months now.
- After four consecutive months of contractions, AIGs performance of services index (PSI) finally clawed its way back above the 50.0 level, printing a 51.3 in February (48.4 previous).
- The service sector is heavily consumer-oriented, so this could mean that consumer spending may be strengthening.
- AIGs performance of construction index (PCI) continued to deteriorate, printing a 46.3 in January (46.8 previous).
- This is the second consecutive month that PCI has been in contraction territory.
- The poor PCI reading was attributed to a lack of new work to replace projects completed at the end of 2015 and a continued winding back in mining and heavy industrial construction work.
Trade:
- Australia had a seasonally-adjusted trade deficit of around $2,937 million in January 2016, which is 16.6% smaller when compared to December 2015s trade deficit of $3,524 million.
- The smaller trade deficit was due to a 1.1% increase in exports (-4.4% previous) and a simultaneous 1.1% decrease in imports (-1.5% previous).
- Imports have been decreasing for four consecutive months now.
- Imports of consumer goods fell by 1.0 (same as previous), but its not a worrying thing since consumer spending remains robust, which likely means that Australians are buying more domestic goods.
- The continuing decline in capital goods (2.0% vs. 3.0% previous) is a bit worrying since that implies that private investment may be a drag on Q1 2016 GDP.
- #138,739
- Mar 7, 2016 4:44pm Mar 7, 2016 4:44pm
- Joined Sep 2006 | Status: Trader | 10,704 Posts
every Saint has a past. Every Sinner has a Future
