IronFX Daily Commentary by Charalambos Pissouros | 21/03/2017
March 21, 2017 10:22 am
Macron seen as the winner of the first French debate • According to a snap poll towards the end of the debate, Macron was the most convincing. • Second was Mélenchon, with Fillon and Le Pen tied for third place. • EUR rose after the debate, as this may have diminished Le Pen’s chances to win. • Outlook for EUR is positive near-term (upbeat ECB, slightly reduced political risks). • Key risk to this view would be incoming polls showing Le Pen gaining ground despite this debate.
UK PM May to officially trigger Article 50 next week • UK gov. is due to trigger the formal process for leaving the EU on Wed. 29th of March. • Although this shouldn’t have come as a surprise, GBP still came under pressure on the news. • Likely to get lots of market-moving media headlines regarding the negotiations after that date. • Besides the political developments, watch out for UK inflation data today.
Today’s highlights: • UK: CPI data for Feb. Both the headline and the core rates exp. to have risen. Following recent hawkish comments from the BoE, this could fuel speculation regarding a potential reduction in stimulus and thereby, support GBP. • Canada: Retail sales for Jan. are exp. to have risen. May prove CAD-positive. • Speakers: BoE Governor Carney, NY Fed President Dudley and Kansas Fed President George.
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Macron seen as the winner of the first French debate
• According to a snap poll towards the end of the debate, Macron was the most convincing.
• Second was Mélenchon, with Fillon and Le Pen tied for third place.
• EUR rose after the debate, as this may have diminished Le Pen’s chances to win.
• Outlook for EUR is positive near-term (upbeat ECB, slightly reduced political risks).
• Key risk to this view would be incoming polls showing Le Pen gaining ground despite this debate.
UK PM May to officially trigger Article 50 next week
• UK gov. is due to trigger the formal process for leaving the EU on Wed. 29th of March.
• Although this shouldn’t have come as a surprise, GBP still came under pressure on the news.
• Likely to get lots of market-moving media headlines regarding the negotiations after that date.
• Besides the political developments, watch out for UK inflation data today.
Today’s highlights:
• UK: CPI data for Feb. Both the headline and the core rates exp. to have risen. Following recent hawkish comments from the BoE, this could fuel speculation regarding a potential reduction in stimulus and thereby, support GBP.
• Canada: Retail sales for Jan. are exp. to have risen. May prove CAD-positive.
• Speakers: BoE Governor Carney, NY Fed President Dudley and Kansas Fed President George.
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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