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Trading Performance 2017-2018

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EUR/USD News & Analysis

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Forex Trading Strategies News & Analysis
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Latest Articles

The RBA held rates at 1.5% struck an upbeat tune about the country’s economy today.

“The low level of interest rates is continuing to support the Australian economy,” Governor Philip Lowe said in the policy decision statement. “Further progress in reducing unemployment and having inflation return to target is expected, although this progress is likely to be gradual.” The bank narrowly upgraded its forecast for GDP growth to average “a bit above 3%” over the next couple of years. “The data over the summer have been consistent with this outlook,” Lowe added.

The UK services PMI dropped 1.2 points to a 16-month low of 53.0 in January. The headline index is a gauge of the direction of output in the dominant services sector, which accounts for around 80% of UK GDP. The services PMI lies 2.1 points below its long-run average of 55.1; however, the PMI has been hovering not far above its current level for some time now – the average over the last nine months is 53.8 – so it only represents a modest slowdown on the recent past and, of course, it could just be monthly volatility.

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