• IronFX Daily Commentary by Charalambos Pissouros | 20/02/2017
    IronFX Daily Commentary by Charalambos Pissouros | 20/02/2017

    House of Lords set to debate Article 50 bill • Expected to pass the bill without any amendments. Thus, Brexit is still set to be triggered in Mar. • Still headed for a “hard Brexit” (UK wants control of immigration, EU won’t give full access to single market in that case). • Investors may begin […]

  • IronFX Daily Commentary by Charalambos Pissouros | 17/02/2017
    IronFX Daily Commentary by Charalambos Pissouros | 17/02/2017

    ECB minutes confirm there’s wide support for loose policy • ECB minutes from the Jan. meeting confirmed much of what Draghi told us at the press conf. • Very little appetite among officials for tapering anytime soon. Also, focus will be on the core CPI. • Confirms our view the ECB may remain on hold […]

  • IronFX Daily Commentary by Marios Hadjikyriacos | 16/02/2017
    IronFX Daily Commentary by Marios Hadjikyriacos | 16/02/2017

    USD gains on solid economic data, but only briefly • USD gained yest. after almost all data releases beat their forecasts (CPI & retail sales). • But the reaction was short-lived. Gave back all the gains to trade lower in the following hours. • Yellen didn’t say anything new. USD correction lower may have been […]

  • IronFX Daily Commentary by Marios Hadjikyriacos | 15/02/2017
    IronFX Daily Commentary by Marios Hadjikyriacos | 15/02/2017

    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 […]

  • IronFX Daily Commentary by Charalambos Pissouros | 14/02/2017
    IronFX Daily Commentary by Charalambos Pissouros | 14/02/2017

    Dollar consolidates ahead of Yellen’s Congressional testimony • Fed Chair Yellen will testify before the Senate Committee on Banking, Housing & Urban affairs. • Market action will come from her view on the economy and whether she is seen as likely to vote in favor of a hike in the near-term. • She was quite […]

  • IronFX Daily Commentary by Charalambos Pissouros | 13/02/2017
    IronFX Daily Commentary by Charalambos Pissouros | 13/02/2017

    USD starts the week higher in the aftermath of Trump-Abe meeting • USD opened the week with a positive gap and traded higher in early Asian trading (esp. vs JPY). • May be due to the Trump-Abe meeting ending on a positive note. No comments on currency manipulation or trade policy. • Also, investors may […]

  • IronFX Daily Commentary by Charalambos Pissouros | 10/02/2017
    IronFX Daily Commentary by Charalambos Pissouros | 10/02/2017

    Trump announces he will announce something on taxes • USD and US equities soared yest., after Pres. Trump pledged to announce a “phenomenal” plan on tax reform in the next 2-3 weeks. • He briefly hinted at measures aimed at reducing taxes for businesses, but nothing specific. • As his tax policy is back in […]

  • IronFX Daily Commentary by Charalambos Pissouros | 09/02/2017
    IronFX Daily Commentary by Charalambos Pissouros | 09/02/2017

    RBNZ retains easing bias, smacks down the Kiwi • RBNZ remained on hold as exp. Surprisingly, the Bank retained its easing bias (despite the material improvement in domestic data). • “Uncertainties persist, particularly in the international outlook, and policy may need to adjust”. • Also reiterated that a decline in NZD is needed. Possibly due […]

  • IronFX Daily Commentary by Charalambos Pissouros | 08/02/2017
    IronFX Daily Commentary by Charalambos Pissouros | 08/02/2017

    RBNZ likely to stand pat and shift to a more upbeat bias • RBNZ is exp. to take no action. Focus will be on the statement, and Gov. Wheeler’s press conf. • Data have improved since the Nov. meeting. CPI rate for Q4 and 2-year infl. exp. both surged. • As such, the statement may […]

  • IronFX Daily Commentary by Charalambos Pissouros | 07/02/2017
    IronFX Daily Commentary by Charalambos Pissouros | 07/02/2017

    RBA keeps rates on hold; maintains a confident tone • RBA remained on hold. The officials were surprisingly optimistic with regards to economic data. • They signalled that although GDP was negative in Q3, that was temporary. They also downplayed the rather soft Q4 CPIs. • Overall, the RBA remains neutral, and in our view […]

  • IronFX Daily Commentary by Charalambos Pissouros | 03/02/2017
    IronFX Daily Commentary by Charalambos Pissouros | 03/02/2017

    NFP preview: Upside surprise on the cards? • US NFP is exp. 175k in Jan., higher than 156k in Dec. We see upside risks to the forecast (ADP was 246k and other job indicators were solid). • Unempl. rate to remain unchanged, avg. hourly earnings to slow, but only slightly. • Despite a minor slowdown […]

  • IronFX Daily Commentary by Charalambos Pissouros | 02/02/2017
    IronFX Daily Commentary by Charalambos Pissouros | 02/02/2017

    BoE likely to remain neutral on “Super Thursday” • This is one of the “big” meetings. Besides the rate decision, we get updated economic forecasts and a press conf. by Gov. Carney. • Focus may be on inflation. Specifically, on the BoE’s tolerance to “look through” above-target CPI. • We expect a neutral stance overall, […]

  • IronFX Daily Commentary by Charalambos Pissouros | 01/02/2017
    IronFX Daily Commentary by Charalambos Pissouros | 01/02/2017

    FOMC decision: Optimistic signals? • The Committee is widely expected to take no action. Focus will be on language of the statement. • Economic data have improved further since the Dec. hike (inflation & wages accelerated). • Thus, we think it’s likely the FOMC appears upbeat overall, thereby setting the stage for a near-term rate […]

  • IronFX Daily Commentary by Charalambos Pissouros | 31/01/2017
    IronFX Daily Commentary by Charalambos Pissouros | 31/01/2017

    BoJ keeps policy unchanged, raises GDP forecasts • BoJ remained on hold via a 7-2 vote. Raised its GDP growth forecasts for the next 3 years. • Knee-jerk reaction in JPY was positive, but quickly gave back all its gains to trade unchanged. • We exp. the Bank to stay on hold for a while. […]

  • IronFX Daily Commentary by Charalambos Pissouros | 30/01/2017
    IronFX Daily Commentary by Charalambos Pissouros | 30/01/2017

    BoJ: Playing the waiting game • BoJ is widely expected to remain on hold. Focus will be on the language of the statement. • There’s market chatter about the prospect of the BoJ withdrawing some stimulus (tapering). • We think it’s far too early to discuss this, and we exp. the Bank to remain dovish […]

  • IronFX Daily Commentary by Charalambos Pissouros | 27/01/2017
    IronFX Daily Commentary by Charalambos Pissouros | 27/01/2017

    Trump administration places deregulation at the top of its agenda • Vice Pres. Pence: dismantling Dodd-Frank act is a priority (deregulate financial services). • Importantly, Republicans support this, implying Congress will probably pass it with no resistance. • This is a USD positive (pro-growth) in the short-term. If there’s more talk on this, USD may […]

  • IronFX Daily Commentary by Charalambos Pissouros | 26/01/2017
    IronFX Daily Commentary by Charalambos Pissouros | 26/01/2017

    New Zealand’s CPI accelerates and lifts the Kiwi • New Zealand’s CPI accelerated sharply in Q4 to +1.3% yoy from +0.4% yoy prev. • Very encouraging, shows the strength of NZ’s economy and that the 3 rates cuts by the RBNZ in 2016 may have worked. • NZD surged. We exp. RBNZ to remain sidelined […]

  • IronFX Daily Commentary by Charalambos Pissouros | 25/01/2017
    IronFX Daily Commentary by Charalambos Pissouros | 25/01/2017

    CAD jumps as Trump clears the way to build oil pipelines • Pres. Trump signed orders that clear the way to build an oil pipeline from Canada to US. • CAD surged, as this could imply higher profits for oil companies, better terms of trade for Canada and more oil investment. • But this is […]

  • IronFX Daily Commentary by Charalambos Pissouros | 24/01/2017
    IronFX Daily Commentary by Charalambos Pissouros | 24/01/2017

    UK Supreme Court set to announce its decision on Brexit • Should Parliament vote on triggering Article 50? • If yes, greater involvement from lawmakers means reduced risk of a “messy” UK-EU divorce. • Thus, if the Court rules Parliament should vote, GBP could experience another relief rally. • If no, GBP may come under […]

  • IronFX Daily Commentary by Marios Hadjikyriacos | 23/01/2017
    IronFX Daily Commentary by Marios Hadjikyriacos | 23/01/2017

    Trump’s inauguration spells further downside for USD • Very little on economics. Most noteworthy comment was on infrastructure, where he reiterated that he will build roads, bridges, etc. • Perhaps due to the lack of any clarity with regards to fiscal & regulatory reforms, USD tumbled in the aftermath. • Without any news on these […]

  • IronFX Daily Commentary by Charalambos Pissouros | 20/01/2017
    IronFX Daily Commentary by Charalambos Pissouros | 20/01/2017

    Trump’s inauguration: A second wind for the USD rally, or further correction? • Investors will (once again) be on the lookout for any comments on fiscal and regulatory policies. • A confirmation he plans to follow through with his pre-election rhetoric and push massive spending through Congress, could reignite the USD rally. • But if […]

  • IronFX Daily Commentary by Charalambos Pissouros | 19/01/2017
    IronFX Daily Commentary by Charalambos Pissouros | 19/01/2017

    ECB to remain on hold and maintain a balanced tone • ECB is widely expected to keep policy unchanged. Focus will probably be on Draghi’s press conf. • Data have improved since the Dec. meeting (headline CPI rate at highest lvl. since 2013). • But core inflation has not shown signs of significant progress. Thus, […]

  • IronFX Daily Commentary by Charalambos Pissouros | 18/01/2017
    IronFX Daily Commentary by Charalambos Pissouros | 18/01/2017

    Bank of Canada to stand pat and maintain its neutral bias • Mixed economic data from Canada lately. Very strong jobs figures, soft inflation numbers. • As such, we exp. the Bank to maintain a neutral tone overall. Theresa May pledges to give parliament a vote on final Brexit deal • Delivered the “hard Brexit” […]

  • IronFX Daily Commentary by Charalambos Pissouros | 17/01/2017
    IronFX Daily Commentary by Charalambos Pissouros | 17/01/2017

    UK PM Theresa May set to signal a “hard Brexit” • Overnight, several media reports confirmed she will say the UK will not be “half-in, half-out” of the EU. • She will also provide other hints Britain may leave the single EU market, according to her office. • Given that most of the speech is […]

  • IronFX Daily Commentary by Charalambos Pissouros | 16/01/2017
    IronFX Daily Commentary by Charalambos Pissouros | 16/01/2017

    Sterling collapses on anticipation of a “hard Brexit” speech • GBP opened with a huge downward gap, following media reports that PM May will probably deliver “hard Brexit” signals in a speech tomorrow. • Even though this is a negative development for the pound, we would stay careful of a “sell the rumor, buy the […]

  • IronFX Daily Commentary by Charalambos Pissouros | 13/01/2017
    IronFX Daily Commentary by Charalambos Pissouros | 13/01/2017

    Fed Chair Yellen maintains an upbeat tone on the economy • Even though she didn’t comment on interest rates, she was quite optimistic on the broader economy, the labor market as well as inflation. • Her upbeat comments support the case that the Fed may hike rates 3 times this year. Thus, USD rebounded, recovering […]

  • IronFX Daily Commentary by Charalambos Pissouros | 12/01/2017
    IronFX Daily Commentary by Charalambos Pissouros | 12/01/2017

    Trump reveals nothing new on economic policies • Little on economics. Most questions centered around “fake news” and Trump’s companies. • Said that he will bring the prices of pharmaceutical drugs down. Stocks tumbled, but recovered. • Most noteworthy point was on trade. Reminded companies that produce outside the US that they will pay a […]

  • IronFX Daily Commentary by Charalambos Pissouros | 11/01/2017
    IronFX Daily Commentary by Charalambos Pissouros | 11/01/2017

    Trump’s first press conference as US President-elect • First press conference by Trump as President-elect. Scheduled for late European afternoon. • Will be closely watched for any details regarding his fiscal plans (spending, taxes, etc). • Remember, markets have discounted the “Trump effect” without knowing many specifics. • If he does mention anything new, sharp […]

  • IronFX Daily Commentary by Charalambos Pissouros | 10/01/2017
    IronFX Daily Commentary by Charalambos Pissouros | 10/01/2017

    China’s producer prices rise at fastest pace in 5 years • China’s PPI rate rose notably in Dec., a sign the economy is stabilizing on the inflationary front. • Nevertheless, this could be due to yuan’s depreciation in the month. • AUD and NZD positive in the short run, but depr. yuan may prove negative […]

  • IronFX Daily Commentary by Charalambos Pissouros | 09/01/2017
    IronFX Daily Commentary by Charalambos Pissouros | 09/01/2017

    Dollar rebounds on solid US employment data • NFP came 156k in Dec. below the forecast of 178k (but November’s figure was revised up!). • The unempl. rate rose as expected, while avg. hourly earnings beat their estimate. • Overall solid data (the Fed closely monitors earnings). USD strengthened as a result. • The short-term […]

Top Viewed This Week

Subscribe To Our Newsletter

Social Counters
/ Free WordPress Plugins and WordPress Themes by Silicon Themes. Join us right now!

Send this to friend