IronFX Daily Commentary by Marios Hadjikyriacos | 15/02/2017
February 15, 2017 10:04 am
Yellen puts a March hike on the table; USD flies again • Maintained a confident tone on the economy & the prospect of near-term rate hikes. • Her comments implied that investors shouldn’t rule out a March hike. The dollar surged. • Despite her signals, we maintain the view that the most likely time for the next hike is June. • Round 2 testimony today (before the House). If any market reaction, it will be on the Q&A. • USD may remain supported for a few days, but the big driver will be Trump’s tax plans.
Riksbank meeting: A shift to a more optimistic bias? • Bank is exp. to remain on hold. Focus will probably be on the language of the statement. • The officials were rather optimistic last time, and economic data have improved since then. • Thus, the phrasing of the statement may be even more confident than last time, which may support SEK.
As for the rest of today’s highlights: • UK: Jobs data for Dec. both unempl. rate and avg. weekly earnings rate are exp. unchanged, but at healthy levels. As such, this could support GBP a bit. • US: CPI retail sales data for Jan. Expectations are mixed overall, which could keep the reaction in USD rather limited. The most attention may be on the core CPI rate, which is exp. unchanged. • Speakers: Besides Chair Yellen, Riksbank Governor Ingves and Philadelphia Fed President Patrick Harker.
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Yellen puts a March hike on the table; USD flies again
• Maintained a confident tone on the economy & the prospect of near-term rate hikes.
• Her comments implied that investors shouldn’t rule out a March hike. The dollar surged.
• Despite her signals, we maintain the view that the most likely time for the next hike is June.
• Round 2 testimony today (before the House). If any market reaction, it will be on the Q&A.
• USD may remain supported for a few days, but the big driver will be Trump’s tax plans.
Riksbank meeting: A shift to a more optimistic bias?
• Bank is exp. to remain on hold. Focus will probably be on the language of the statement.
• The officials were rather optimistic last time, and economic data have improved since then.
• Thus, the phrasing of the statement may be even more confident than last time, which may support SEK.
As for the rest of today’s highlights:
• UK: Jobs data for Dec. both unempl. rate and avg. weekly earnings rate are exp. unchanged, but at healthy levels. As such, this could support GBP a bit.
• US: CPI retail sales data for Jan. Expectations are mixed overall, which could keep the reaction in USD rather limited. The most attention may be on the core CPI rate, which is exp. unchanged.
• Speakers: Besides Chair Yellen, Riksbank Governor Ingves and Philadelphia Fed President Patrick Harker.
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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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