IronFX Daily Commentary by Charalambos Pissouros | 02/03/2016
March 2, 2016 9:47 am
Aussie jumps on upbeat Q4 GDP data • Australian GDP grew by more than expected in Q4. • AUD/USD jumped 50 pips on the news. • Further easing by RBA is now unlikely in the near-term. AUD could continue higher. • Nikkei leads Asian equity rally • Asian stock markets are in the green today, with Japan’s
Nikkei 225 up 4.2% and China’s CSI 300 up 2.7%. • Better than exp. data from Australia and US, and China’s recent stimulus, may have calmed the markets, for now. • The positive sentiment could roll over into European equities, such as DAX, Eurostoxx.
Today: • UK: Construction PMI for Feb. is exp. to rise, but we see a high likelihood for the figure to miss the forecast. This could prove GBP-negative. • Eurozone: PPI for Jan. but usually not a major market mover. • US: ADP employment report for Feb. is exp. 190k vs prev. 205k. Despite the decline, this could increase speculation the NFP print comes close to 200k and may support USD. Also, the Fed releases Beige book. • Speakers: ECB Executive Board member Benoit Coeure, ECB Governing Council member Villeroy de Galhau and San Francisco Fed President John Williams.
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Aussie jumps on upbeat Q4 GDP data
• Australian GDP grew by more than expected in Q4.
• AUD/USD jumped 50 pips on the news.
• Further easing by RBA is now unlikely in the near-term. AUD could continue higher.
• Nikkei leads Asian equity rally
• Asian stock markets are in the green today, with Japan’s
Nikkei 225 up 4.2% and China’s CSI 300 up 2.7%.
• Better than exp. data from Australia and US, and China’s recent stimulus, may have calmed the markets, for now.
• The positive sentiment could roll over into European equities, such as DAX, Eurostoxx.
Today:
• UK: Construction PMI for Feb. is exp. to rise, but we see a high likelihood for the figure to miss the forecast. This could prove GBP-negative.
• Eurozone: PPI for Jan. but usually not a major market mover.
• US: ADP employment report for Feb. is exp. 190k vs prev. 205k. Despite the decline, this could increase speculation the NFP print comes close to 200k and may support USD. Also, the Fed releases Beige book.
• Speakers: ECB Executive Board member Benoit Coeure, ECB Governing Council member Villeroy de Galhau and San Francisco Fed President John Williams.
Join us for more technical and fundamental analysis: http://www.ironfx.com
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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