IronFX Daily Commentary by Charalambos Pissouros | 25/01/2017
January 25, 2017 9:40 am
CAD jumps as Trump clears the way to build oil pipelines • Pres. Trump signed orders that clear the way to build an oil pipeline from Canada to US. • CAD surged, as this could imply higher profits for oil companies, better terms of trade for Canada and more oil investment. • But this is preliminary. If formally approved by US State Dep. (60 days), CAD may gain a bit more.
UK Supreme Court decides Parliament should approve Brexit • Court ruled by an 8-3 vote that the gov. cannot trigger Brexit without Parliament’s vote. • Volatile GBP reaction. Spiked up, plunged, but recovered to trade higher in following hours. • Negative reaction may have happened because Scotland and Ireland were denied vetoes.
Overnight: Australia’s Q4 CPI misses estimates • Both headline and trimmed mean CPI rates for Q4 missed forecasts slightly. AUD tumbled. • Not serious enough to trigger an RBA rate cut. But may ease some of AUD’s recent gains.
Today’s highlights: • Germany: Ifo survey for Jan. Both the current conditions and the expectations indices are exp. to rise a bit, which could support DAX somewhat. • New Zealand: CPI data for Q4. Expectations are for a very strong acceleration, which could diminish notably the likelihood for any further RBNZ easing and thereby, support NZD. • Speakers: BoE Governor Mark Carney and Riksbank Governor Stefan Ingves.
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
CAD jumps as Trump clears the way to build oil pipelines
• Pres. Trump signed orders that clear the way to build an oil pipeline from Canada to US.
• CAD surged, as this could imply higher profits for oil companies, better terms of trade for Canada and more oil investment.
• But this is preliminary. If formally approved by US State Dep. (60 days), CAD may gain a bit more.
UK Supreme Court decides Parliament should approve Brexit
• Court ruled by an 8-3 vote that the gov. cannot trigger Brexit without Parliament’s vote.
• Volatile GBP reaction. Spiked up, plunged, but recovered to trade higher in following hours.
• Negative reaction may have happened because Scotland and Ireland were denied vetoes.
Overnight: Australia’s Q4 CPI misses estimates
• Both headline and trimmed mean CPI rates for Q4 missed forecasts slightly. AUD tumbled.
• Not serious enough to trigger an RBA rate cut. But may ease some of AUD’s recent gains.
Today’s highlights:
• Germany: Ifo survey for Jan. Both the current conditions and the expectations indices are exp. to rise a bit, which could support DAX somewhat.
• New Zealand: CPI data for Q4. Expectations are for a very strong acceleration, which could diminish notably the likelihood for any further RBNZ easing and thereby, support NZD.
• Speakers: BoE Governor Mark Carney and Riksbank Governor Stefan Ingves.
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: