IronFX Daily Commentary by Charalambos Pissouros | 04/04/2017
April 4, 2017 9:01 am
RBA remains on hold, but tilts somewhat dovish • The RBA remained on hold. The meeting statement had a somewhat dovish tone compared to the previous one. • The Bank highlighted that labor market indicators have softened recently. • AUD fell on the news, and may stay under selling interest for a while on this dovish signals. • Also, the Trump-Xi meeting (Thursday) may keep commodity currencies on the back foot.
Today’s highlights: • UK: Construction PMI for March (08:30 GMT) is expected unchanged. We see the risks surrounding that forecast as skewed to the downside. In case of a decline, GBP-negative. • Eurozone: Retail sales for February (09:00 GMT) are expected to have risen. • US: Trade balance (12:30 GMT) and factory orders (14:00 GMT), both for February. However, neither of these is usually a major market mover. • Canada: Trade balance for February (12:30 GMT). • Speakers: ECB President Mario Draghi (13:30 GMT). Following the media reports that investors over-interpreted the ECB’s signals, it would be interesting to hear what Draghi has to say.
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RBA remains on hold, but tilts somewhat dovish
• The RBA remained on hold. The meeting statement had a somewhat dovish tone compared to the previous one.
• The Bank highlighted that labor market indicators have softened recently.
• AUD fell on the news, and may stay under selling interest for a while on this dovish signals.
• Also, the Trump-Xi meeting (Thursday) may keep commodity currencies on the back foot.
Today’s highlights:
• UK: Construction PMI for March (08:30 GMT) is expected unchanged. We see the risks surrounding that forecast as skewed to the downside. In case of a decline, GBP-negative.
• Eurozone: Retail sales for February (09:00 GMT) are expected to have risen.
• US: Trade balance (12:30 GMT) and factory orders (14:00 GMT), both for February. However, neither of these is usually a major market mover.
• Canada: Trade balance for February (12:30 GMT).
• Speakers: ECB President Mario Draghi (13:30 GMT). Following the media reports that investors over-interpreted the ECB’s signals, it would be interesting to hear what Draghi has to say.
Join us for more technical and fundamental analysis: http://www.ironfx.com
To get the latest Forex trading news you should:
• Download the IronFX Research app: http://goo.gl/jhQIxO
• Like us on Facebook: https://www.facebook.com/IronFX
• Follow us on Instagram: https://www.instagram.com/ironfx
• Follow us on LinkedIn: https://goo.gl/wSEbPN
• Follow us on Twitter: https://twitter.com/IronFXGlobal
• Circle us on Google+: https://www.google.com/+Ironfxglobal
• Subscribe to our Channel: http://bit.ly/1foFmCU
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