IronFX Daily Commentary by Charalambos Pissouros | 17/02/2017
February 17, 2017 9:43 am
ECB minutes confirm there’s wide support for loose policy • ECB minutes from the Jan. meeting confirmed much of what Draghi told us at the press conf. • Very little appetite among officials for tapering anytime soon. Also, focus will be on the core CPI. • Confirms our view the ECB may remain on hold for a while. At least until core CPI accelerates and the political events are out of the way. • Little reaction in EUR. Despite the latest rebound, as we approach the elections, political risk could weigh more on the currency. • Favourite proxy for any forthcoming EUR weakness: EUR/JPY (yen may enjoy safe-haven flows).
Today’s highlights: • Sweden: CPI for Jan. is exp. to have slowed. May prove SEK-negative. • Eurozone: Current account balance for Dec. Usually not a major market mover. • UK: Retail sales data for Jan. Both the headline and the core rates are exp. to have rebounded following a sharp decline in Dec. GBP-positive.
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ECB minutes confirm there’s wide support for loose policy
• ECB minutes from the Jan. meeting confirmed much of what Draghi told us at the press conf.
• Very little appetite among officials for tapering anytime soon. Also, focus will be on the core CPI.
• Confirms our view the ECB may remain on hold for a while. At least until core CPI accelerates and the political events are out of the way.
• Little reaction in EUR. Despite the latest rebound, as we approach the elections, political risk could weigh more on the currency.
• Favourite proxy for any forthcoming EUR weakness: EUR/JPY (yen may enjoy safe-haven flows).
Today’s highlights:
• Sweden: CPI for Jan. is exp. to have slowed. May prove SEK-negative.
• Eurozone: Current account balance for Dec. Usually not a major market mover.
• UK: Retail sales data for Jan. Both the headline and the core rates are exp. to have rebounded following a sharp decline in Dec. GBP-positive.
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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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