IronFX Daily Commentary by Charalambos Pissouros | 03/03/2017
March 3, 2017 10:16 am
• Fed’s Powell adds to the hawkish chorus; Yellen & Fischer in focus • Fed’s Powell (perm. voter) said overnight that a March hike will be seriously considered. • Today, Fed Chair Yellen and Vice Chair Fischer speak. Their comments will probably determine USD’s near-term direction. • We see the risks surrounding dollar’s reaction today as asymmetric (tilted to the downside). • March hike prob. = 77%. Thus, in case of more optimistic comments, it could rise towards 100% and support USD. • But in case of disappointment, there is a lot more room for that prob. to go down, and hurt USD. • As for the rest today’s highlights: • France, Germany & Eurozone: Final services PMIs for Feb. • Sweden: Industrial production for Jan. is exp. to have risen, a rebound from prev. SEK-positive. • UK: Services PMI for Feb. is exp. to decline somewhat, which may bring GBP under renewed selling interest. • US: ISM non-manufacturing PMI for Feb. is exp. unchanged, but at an elevated level. USD-positive, but focus will be on the Fed speakers. • Speakers: Besides Yellen & Fischer, Dallas Fed President Robert Kaplan.
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• Fed’s Powell adds to the hawkish chorus; Yellen & Fischer in focus
• Fed’s Powell (perm. voter) said overnight that a March hike will be seriously considered.
• Today, Fed Chair Yellen and Vice Chair Fischer speak. Their comments will probably determine USD’s near-term direction.
• We see the risks surrounding dollar’s reaction today as asymmetric (tilted to the downside).
• March hike prob. = 77%. Thus, in case of more optimistic comments, it could rise towards 100% and support USD.
• But in case of disappointment, there is a lot more room for that prob. to go down, and hurt USD.
• As for the rest today’s highlights:
• France, Germany & Eurozone: Final services PMIs for Feb.
• Sweden: Industrial production for Jan. is exp. to have risen, a rebound from prev. SEK-positive.
• UK: Services PMI for Feb. is exp. to decline somewhat, which may bring GBP under renewed selling interest.
• US: ISM non-manufacturing PMI for Feb. is exp. unchanged, but at an elevated level. USD-positive, but focus will be on the Fed speakers.
• Speakers: Besides Yellen & Fischer, Dallas Fed President Robert Kaplan.
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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/wSEbPNÂ
• 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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