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Eurozone to release construction figures, AUD may stumble on RBA minutes

business-articlesEurozone to release construction figures, AUD may stumble on RBA minutes
  • Eurozone construction output expected to slow
  • RBA minutes may weaken AUD
  • Germany producer prices forecast to tick higher
Eurozone construction output forecast to slow

The euro may relinquish some of its recent gains this morning as the Eurozone publishes its latest construction output figures.

Economists forecast that construction output growth will have slipped from 2.7% to 2.4% in December.

With output also having risen 3.4% at the same point in 2016, the data is unlikely to be welcomed by investors.

However this will still see output remain well above the long-term average of -0.5% and will be the eleventh month of consecutive growth, so any impact on the single currency may be negligible.

AUD may slide following release of RBA minutes

The Australian Dollar may tumble in overnight trade today as the Reserve Bank of Australia published the minutes from its latest policy meeting.

The RBA made it clear earlier this month that any monetary tightening this year was unlikely.

This disappointed many investors who had speculated that the bank may have been gearing up for a rate hike in the second half of the week.

Analysts expected that the minutes would strike the same broadly dovish tone as RBA Governor, Philip Lowe did earlier in the month.

However the accounts could still drive the ‘Aussie’ lower if they detail any particular concerns policymakers have over the economy.

German PPI expected to continue to rise

EUR might start off on slight better footing at the opening of the European session on Tuesday as Germany publishes its latest Producer Price Index (PPI).

Economists predict that figures will show price growth accelerated 0.3% in January, up from 0.2% at the end of last year.

The will be the seventh month of consecutive rises in prices and will help to further counteract concerns about a fall in the consumer price index last month.

Upcoming Data

Monday, 19 February, 2018
10:00                     EUR Construction Output  

Tuesday, 20 February, 2018
00:30                     AUD RBA Minutes
07:00                     EUR German PPI
 
Philip McHugh

Philip McHugh

Joining the corporate trading desk in 2007, Phil now over sees all of Currencies Direct’s corporate dealing activity. Having gained experience working with hundreds of businesses to optimise international payments processes and execute comprehensive risk management strategies, Phil currently works with a portfolio of corporate clients whilst managing Currencies Direct’s overall market exposure

Phil has FCA approval and has completed the Certificate in International Treasury Management (CertiTM)

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