IronFX Daily Commentary by Marios Hadjikyriacos | 11/04/2017
April 11, 2017 8:17 amVideo
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Fed Chair Yellen: The economy is “pretty healthy”
• Said the economy is “pretty healthy” and that it’s appropriate to raise rates as it continues to perform well.
• But didn’t discuss the timing of the next hike, or the hot topic of a reduction in the Fed’s balance sheet.
• As a result, there was little movement in USD on her comments and during the Q&A session.
• USD traders may now turn their attention to Friday’s inflation and retail sales data for updated signals on when the Fed may act next.
Today’s highlights:
• UK: CPI data for March (08:30 GMT). The headline CPI rate is expected to have held steady, while the core is forecast to have ticked down. We see the risks surrounding the core as skewed to the upside. In case of an unchanged rate, GBP-positive.
• Sweden: CPI for March (07:30 GMT) as well. Both rates are forecast to have declined, which could amplify speculation regarding further easing by the Riksbank and thereby, hurt SEK.
• Germany: ZEW survey for April (09:00 GMT). Both the current conditions and the expectations indices are forecast to rise, which could trigger a modest positive reaction in the DAX.
• Speakers: Minneapolis Fed President Neel Kashkari.
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