IronFX Daily Commentary by Charalambos Pissouros | 07/02/2017
February 7, 2017 10:00 am
RBA keeps rates on hold; maintains a confident tone • RBA remained on hold. The officials were surprisingly optimistic with regards to economic data. • They signalled that although GDP was negative in Q3, that was temporary. They also downplayed the rather soft Q4 CPIs. • Overall, the RBA remains neutral, and in our view is likely to remain on hold in coming months. • AUD rose on the news, and could remain supported in the foreseeable future. Overnight: New Zealand’s 2-year inflation expectations surge • Inflation expectations indicate where people expect inflation to be in … (2 years in this case). • This surge is very positive for the RBNZ and diminishes the likelihood for any further easing. • NZD surged and is likely to remain strong in the near-term. RBNZ may also be upbeat tomorrow. Euro takes a hit as political risks loom • EUR tumbled yest., while safe havens JPY & gold surged, on French pres. election news. • Republican cand. Francois Fillon apologised for a scandal. Investors may have seen it as increasing the chances of far-right cand. Le Pen. • As we approach the election (Apr.), we may see similar reactions. Also, Dutch election (Mar.) Today: • US: Trade balance and JOLTS job openings, both for Dec. • Canada: Ivey PMI for Jan. We see the case for an increase, which may support CAD.
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
RBA keeps rates on hold; maintains a confident tone
• RBA remained on hold. The officials were surprisingly optimistic with regards to economic data.
• They signalled that although GDP was negative in Q3, that was temporary. They also downplayed the rather soft Q4 CPIs.
• Overall, the RBA remains neutral, and in our view is likely to remain on hold in coming months.
• AUD rose on the news, and could remain supported in the foreseeable future.
Overnight: New Zealand’s 2-year inflation expectations surge
• Inflation expectations indicate where people expect inflation to be in … (2 years in this case).
• This surge is very positive for the RBNZ and diminishes the likelihood for any further easing.
• NZD surged and is likely to remain strong in the near-term. RBNZ may also be upbeat tomorrow.
Euro takes a hit as political risks loom
• EUR tumbled yest., while safe havens JPY & gold surged, on French pres. election news.
• Republican cand. Francois Fillon apologised for a scandal. Investors may have seen it as increasing the chances of far-right cand. Le Pen.
• As we approach the election (Apr.), we may see similar reactions. Also, Dutch election (Mar.)
Today:
• US: Trade balance and JOLTS job openings, both for Dec.
• Canada: Ivey PMI for Jan. We see the case for an increase, which may support CAD.
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
Related Posts: