IronFX Daily Commentary by Charalambos Pissouros | 02/05/2017
May 2, 2017 9:13 am
RBA stands pat, appears slightly more upbeat • The RBA remained on hold. The accompanying statement was neutral overall, and very similar to the previous one. • The most noteworthy change was in the assessment of the labor market. Officials did not appear as concerned about it as they did last time. • Perhaps due to this factor, AUD gained somewhat after the decision. • Nonetheless, the currency’s bias appears cautiously negative, so this positive reaction could stay short-lived.
Today is a PMI day: • France, Germany & Eurozone: Final manufacturing PMIs for April (07:50 GMT), but usually not major market movers. • Sweden & Norway: Manufacturing PMIs for April (06:30 GMT and 07:00 GMT respectively). • Eurozone: Unemployment rate for March (09:00 GMT) is expected to have declined. • UK: Manufacturing PMI for April (08:30 GMT) is expected to have declined a bit. Could prove GBP-negative, but the currency’s near-term direction may be primarily decided by election news.
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RBA stands pat, appears slightly more upbeat
• The RBA remained on hold. The accompanying statement was neutral overall, and very similar to the previous one.
• The most noteworthy change was in the assessment of the labor market. Officials did not appear as concerned about it as they did last time.
• Perhaps due to this factor, AUD gained somewhat after the decision.
• Nonetheless, the currency’s bias appears cautiously negative, so this positive reaction could stay short-lived.
Today is a PMI day:
• France, Germany & Eurozone: Final manufacturing PMIs for April (07:50 GMT), but usually not major market movers.
• Sweden & Norway: Manufacturing PMIs for April (06:30 GMT and 07:00 GMT respectively).
• Eurozone: Unemployment rate for March (09:00 GMT) is expected to have declined.
• UK: Manufacturing PMI for April (08:30 GMT) is expected to have declined a bit. Could prove GBP-negative, but the currency’s near-term direction may be primarily decided by election news.
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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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