Andrew Hanlan, Research Analyst at Westpac, notes that Australian Business Indicators survey’s March update was positive, providing upside surprises on profits and inventories. Key Quotes “This suggests that the risks to our Q1 GDP forecast of 0.9%qtr, 2.8%yr are tilted to the upside. On Tuesday, we receive updates on net exports and public demand ahead of the National Accounts on Wednesday.” “Company profits were always likely to be relative upbeat early in 2018, with the mining sector receiving a boost from higher commodity prices and increased turnover.” “Indeed, profits exceeded these already positive expectations, climbing 5.9% in the quarter vs market median and Westpac forecast of 3.0%.” “Mining profits jumped 10.9% to be 4.4% above the level of a year ago.” “The main surprise was non-mining profits, up 3.4%, with strength in the period evident in construction, manufacturing, retail, as well as a partial rebound in professional business services.” “By industry, an inventory draw-down was evident in the mining sector to facilitate increased export shipments, but more than offsetting this was a sizeable increase in the wholesale sector.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next EUR futures: scope for further upside FX Street 5 years Andrew Hanlan, Research Analyst at Westpac, notes that Australian Business Indicators survey's March update was positive, providing upside surprises on profits and inventories. Key Quotes "This suggests that the risks to our Q1 GDP forecast of 0.9%qtr, 2.8%yr are tilted to the upside. On Tuesday, we receive updates on net exports and public demand ahead of the National Accounts on Wednesday." "Company profits were always likely to be relative upbeat early in 2018, with the mining sector receiving a boost from higher commodity prices and increased turnover." "Indeed, profits exceeded these already positive expectations, climbing 5.9% in the quarter… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
