IronFX Daily Commentary by Marios Hadjikyriacos | 12/04/2017
April 12, 2017 8:39 amVideo
Latest News
- Outlook for GBP/USD on April 18. Pound was not impressed by the inflation data April 18, 2024
- Outlook for EUR/USD on April 18. Euro has fallen into a new flat April 18, 2024
- GBP/USD. Correction or trend reversal? April 18, 2024
- The FOMC will not lower rates in 2024 April 18, 2024
- Powell made a bold point, and Bailey did not report anything important April 18, 2024
- Will the euro take a risk? April 18, 2024
- Trading Signals for GOLD (XAU/USD) for April 17-19, 2024: sell below $2,400 (21 SMA – double top) April 17, 2024
- Technical Analysis – GBPCAD hits a wall but bulls not ready to give up April 17, 2024
- Trading Signals for Ethereum (ETH/USD) for April 17-19, 2024: sell below $3,125 (21 SMA – 2/8 Murray) April 17, 2024
- Analysis for the EUR/USD pair on April 17th. Jerome Powell didn’t help the dollar much April 17, 2024
- Analysis for GBP/USD pair on April 17th. British inflation overtakes American inflation April 17, 2024
- USD/JPY: Simple Trading tips for novice traders on April 17th (US session) April 17, 2024
- GBP/USD: Simple trading tips for novice traders on April 17th (US session) April 17, 2024
- EUR/USD: Simple trading tips for novice traders on April 17th (US session) April 17, 2024
- GBP/USD: trading plan for the US session on April 17th (analysis of morning deals) April 17, 2024
- Technical Analysis – EURUSD takes a breather after sharp tumble April 17, 2024
- Market continues to price in a plethora of rate cuts for 2024 – Special Report April 17, 2024
- EUR/USD: trading plan for the US session on April 17th (analysis of morning deals) April 17, 2024
- Technical Analysis – EURGBP maintains bearish bias amid pennant formation April 17, 2024
- EUR/USD. April 17th. Jerome Powell supports the dollar April 17, 2024
BoC meeting: Still dovish despite progress in economic data?
• The Bank is expected to remain on hold. Focus will be on the statement & press conference.
• The BoC has maintained a concerned tone in most of its recent communications.
• Mainly because it wants to avoid triggering a surge in the Loonie by sounding more optimistic.
• Thus it may keep the door open for a near-term rate cut, despite the latest progress in the data.
• Such signals could bring CAD under renewed selling interest.
Safe havens rally as geopolitical risks take center stage
• JPY & gold rallied yesterday after reports of escalating tension in the Korean peninsula.
• North Korea said it’s ready to “mount a pre-emptive nuclear attack” on South Korea and the US.
• US President Trump tweeted that N. Korea is looking for trouble, and if China doesn’t help, the US will solve the problem alone.
• Expect a risk-off environment as long as this story remains in the market’s spotlight.
• We could see safe havens extending their recent gains, and riskier assets (stocks, AUD, NZD) underperforming.
As for the rest of today’s highlights:
• UK: Employment data for February (09:30 GMT). Unemployment rate is expected unchanged, average weekly earnings (ex. bonus) to have slowed. Could prove GBP-negative.
• Speakers: BoC Governor Poloz will hold a press conference after the rate decision.
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