IronFX Daily Commentary by Charalambos Pissouros | 12/01/2017
January 12, 2017 9:27 am
Trump reveals nothing new on economic policies • Little on economics. Most questions centered around “fake news” and Trump’s companies. • Said that he will bring the prices of pharmaceutical drugs down. Stocks tumbled, but recovered. • Most noteworthy point was on trade. Reminded companies that produce outside the US that they will pay a “major border tax”. • Perhaps due to the lack of clarity on economics (spending and regulation), USD tumbled during the press conf. and collapsed further after it ended. • The overall story has not changed (Strong USD, etc). But given the absence of new info. on policies, USD may correct a bit lower short-term, maybe until the inauguration.
Today’s highlights: • Sweden: CPI data for Dec. Both the headline and the underlying inflation rates are exp. to have risen, which is likely to prove SEK-positive. Also, unemployment rate for Dec. • Germany: Full year GDP for 2016 is exp. to have accelerated from the previous year. • Speakers: Lots of Fed-speak today. Fed Chair Yellen, Philly Fed Pres. Harker, Chicago Pres. Evans, Atlanta Pres. Dennis Lockhart, Dallas Pres. Kaplan and St. Louis Pres. Bullard. Attention may be mainly on Yellen, but given the nature of the event, she may avoid monetary policy.
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Trump reveals nothing new on economic policies
• Little on economics. Most questions centered around “fake news” and Trump’s companies.
• Said that he will bring the prices of pharmaceutical drugs down. Stocks tumbled, but recovered.
• Most noteworthy point was on trade. Reminded companies that produce outside the US that they will pay a “major border tax”.
• Perhaps due to the lack of clarity on economics (spending and regulation), USD tumbled during the press conf. and collapsed further after it ended.
• The overall story has not changed (Strong USD, etc). But given the absence of new info. on policies, USD may correct a bit lower short-term, maybe until the inauguration.
Today’s highlights:
• Sweden: CPI data for Dec. Both the headline and the underlying inflation rates are exp. to have risen, which is likely to prove SEK-positive. Also, unemployment rate for Dec.
• Germany: Full year GDP for 2016 is exp. to have accelerated from the previous year.
• Speakers: Lots of Fed-speak today. Fed Chair Yellen, Philly Fed Pres. Harker, Chicago Pres. Evans, Atlanta Pres. Dennis Lockhart, Dallas Pres. Kaplan and St. Louis Pres. Bullard. Attention may be mainly on Yellen, but given the nature of the event, she may avoid monetary policy.
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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