IronFX Daily Commentary by Charalambos Pissouros | 23/03/2017
March 23, 2017 10:08 am
Trump’s first Congressional test: The American Healthcare Act • Today, Congress is expected to vote on repealing and replacing ‘Obamacare’ with ‘Trumpcare’. • Will be closely watched as a test of whether the new administration can deliver on its promises. • A rejection could raise questions on whether tax reform is likely to encounter such problems too. • That could prove negative for USD & equities. May prove positive for safe havens (JPY, gold). • On the other hand, if Congress passes the bill, we may see the opposite market reactions.
RBNZ remains on hold, keeps the door open for further easing • RBNZ stood pat, as was expected. Noted that further depreciation in NZD is needed. • But sounded more optimistic with regards to inflation. The reaction in NZD was relatively limited. • Kept the door open for further easing, mostly due to global risks (trade protectionism?). • NZD outlook is cautiously negative (RBNZ is very vocal about a weaker NZD, mixed data).
As for the rest of today’s highlights: • UK: UK retail sales for Feb. Both headline and core rates are exp. to have risen. GBP-positive. • US: New home sales for Feb. and initial jobless claims for the week ended Mar. 17th. • Speakers: Besides any potential comments from US lawmakers, Fed Chair Janet Yellen will speak. Unlikely to cause a major market reaction (we already heard from her last week).
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
Trump’s first Congressional test: The American Healthcare Act
• Today, Congress is expected to vote on repealing and replacing ‘Obamacare’ with ‘Trumpcare’.
• Will be closely watched as a test of whether the new administration can deliver on its promises.
• A rejection could raise questions on whether tax reform is likely to encounter such problems too.
• That could prove negative for USD & equities. May prove positive for safe havens (JPY, gold).
• On the other hand, if Congress passes the bill, we may see the opposite market reactions.
RBNZ remains on hold, keeps the door open for further easing
• RBNZ stood pat, as was expected. Noted that further depreciation in NZD is needed.
• But sounded more optimistic with regards to inflation. The reaction in NZD was relatively limited.
• Kept the door open for further easing, mostly due to global risks (trade protectionism?).
• NZD outlook is cautiously negative (RBNZ is very vocal about a weaker NZD, mixed data).
As for the rest of today’s highlights:
• UK: UK retail sales for Feb. Both headline and core rates are exp. to have risen. GBP-positive.
• US: New home sales for Feb. and initial jobless claims for the week ended Mar. 17th.
• Speakers: Besides any potential comments from US lawmakers, Fed Chair Janet Yellen will speak. Unlikely to cause a major market reaction (we already heard from her last week).
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: