IronFX Daily Commentary by Charalambos Pissouros | 29/03/2017
March 29, 2017 8:58 am
Sterling gets battered as PM May signs Brexit letter • GBP collapsed yest. PM May signed the official letter to trigger Article 50 and leave the EU. • Other possible reasons: Scottish Parliament voting for a 2nd independence referendum and cautious comments from BoE’s McCafferty (hawk). • Today, watch out for remarks from PM May and European Council President Donald Tusk. • GBP direction likely to be decided by incoming negotiation headlines, over the coming weeks/months.
US dollar makes a comeback • The greenback recovered some of its recent losses yest. No clear fundamental reason. • May have been a combination of comments from Fed Vice Chair Fischer that he sees another 2 hikes this year, and end-of-quarter flows. • Outlook for USD is neutral right now. Movements in USD pairs may depend on the counterparts (may lose vs EUR, but win vs CAD for example).
Today’s highlights: • US: Pending home sales for Feb. are exp. to have risen, a rebound from prev. • Speakers: Besides May and Tusk, Chicago Fed President Charles Evans, Boston Fed President Eric Rosengren, San Francisco Fed President John Williams and ECB Executive Board member Peter Praet.
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Sterling gets battered as PM May signs Brexit letter
• GBP collapsed yest. PM May signed the official letter to trigger Article 50 and leave the EU.
• Other possible reasons: Scottish Parliament voting for a 2nd independence referendum and cautious comments from BoE’s McCafferty (hawk).
• Today, watch out for remarks from PM May and European Council President Donald Tusk.
• GBP direction likely to be decided by incoming negotiation headlines, over the coming weeks/months.
US dollar makes a comeback
• The greenback recovered some of its recent losses yest. No clear fundamental reason.
• May have been a combination of comments from Fed Vice Chair Fischer that he sees another 2 hikes this year, and end-of-quarter flows.
• Outlook for USD is neutral right now. Movements in USD pairs may depend on the counterparts (may lose vs EUR, but win vs CAD for example).
Today’s highlights:
• US: Pending home sales for Feb. are exp. to have risen, a rebound from prev.
• Speakers: Besides May and Tusk, Chicago Fed President Charles Evans, Boston Fed President Eric Rosengren, San Francisco Fed President John Williams and ECB Executive Board member Peter Praet.
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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