IronFX Daily Commentary by Marios Hadjikyriacos | 27/02/2017
February 27, 2017 10:26 amVideo
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Sterling tumbles on Brexit-related reports
• GBP slid during the Asian morning Monday, following reports over the weekend regarding a second Scottish independence referendum.
• According these articles, Theresa May could agree to a second vote, but on condition it is held after the UK exits the EU.
• Given these concerns, and reports regarding the end of the free movement of people once Brexit is triggered, GBP could remain under selling interest.
Today:
• US: Durable goods orders for Jan. are exp. to have risen, which may support USD.
• Speakers: Dallas Fed President Robert Kaplan.
As for the rest of the week:
• Tue: US President Trump will address Congress. Focus will be on any comments related to fiscal policy (taxes, spending). Also from the US, 2nd estimate of Q4 GDP.
• Wed: BoC policy meeting. We exp. the Bank to stand pat, and maintain a neutral bias in the meeting statement, which may support CAD a bit. From Australia, GDP data for Q4. From US, personal income & spending for Jan., ISM manuf. PMI for Feb. and core PCE price index for Jan.
• Thu: Eurozone’s prel. CPI for Feb. and Canada’s GDP data for Q4.
• Frid: Japan’s CPI for Jan. and UK services PMI for Feb.
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