IronFX Daily Commentary by Marios Hadjikyriacos | 14/04/2017
April 14, 2017 8:43 am
• Turkey’s constitutional referendum: Too close to call? • On Sunday, Turkish citizens will head to the polls to vote on constitutional changes. • These changes would turn Turkey from a parliamentary to a presidential republic, and could greatly expand the powers of President Erdogan. • Opinion polls suggest that “yes” is more likely, but marginally so. Almost too close to call. • In case of a “yes” vote, we could see a positive reaction in TRY (state of emergency may be lifted, political uncertainty could dissipate somewhat). • In case of a “no”, the Lira could weaken. State of emergency may stay in place, uncertainty could rise further. • Initial results expected 17:00 GMT, final result around 20:30 – 21:00 GMT. • Today’s highlights: • US: CPI and retail sales data, all for March (12:30 GMT). The headline CPI rate is expected to have ticked down, the core to have ticked up. Focus may be primarily on an increase in the core. Both the headline and the core retail sales rates are expected to have declined. We see upside risks to these forecasts, perhaps for unchanged rates. Overall, these may prove USD-positive.
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• Turkey’s constitutional referendum: Too close to call?
• On Sunday, Turkish citizens will head to the polls to vote on constitutional changes.
• These changes would turn Turkey from a parliamentary to a presidential republic, and could greatly expand the powers of President Erdogan.
• Opinion polls suggest that “yes” is more likely, but marginally so. Almost too close to call.
• In case of a “yes” vote, we could see a positive reaction in TRY (state of emergency may be lifted, political uncertainty could dissipate somewhat).
• In case of a “no”, the Lira could weaken. State of emergency may stay in place, uncertainty could rise further.
• Initial results expected 17:00 GMT, final result around 20:30 – 21:00 GMT.
• Today’s highlights:
• US: CPI and retail sales data, all for March (12:30 GMT). The headline CPI rate is expected to have ticked down, the core to have ticked up. Focus may be primarily on an increase in the core. Both the headline and the core retail sales rates are expected to have declined. We see upside risks to these forecasts, perhaps for unchanged rates. Overall, these may prove USD-positive.
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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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