IronFX Daily Commentary by Charalambos Pissouros | 03/08/2016
August 3, 2016 8:36 am
Japanese officials resume intervention talk • Japan’s Vice Fin. Minister Asakawa said he is watching nervous FX moves carefully. • Considering the BoJ’s under-delivery last week and the subsequent yen appreciation, we are likely to hear more similar rhetoric. • Yen didn’t react on these comments. The likelihood for intervention could rise much more if USD/JPY trades below 100.
Today: • France, Germany & Eurozone: Final services PMIs for Jul. • Eurozone: Retail sales for Jul. This is usually not a major market mover. • UK: Final services PMI for Jul. The manuf. PMI was revised further down. Any downward revisions in the service index too may bring GBP under renewed selling interest. • US: ADP employment report for Jul. is exp. 170k vs 172k prev. A solid print could fuel speculation that the NFP also meets its forecast (of 180k) and thereby support USD. Also, ISM non-manufacturing PMI for Jul.
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Japanese officials resume intervention talk
• Japan’s Vice Fin. Minister Asakawa said he is watching nervous FX moves carefully.
• Considering the BoJ’s under-delivery last week and the subsequent yen appreciation, we are likely to hear more similar rhetoric.
• Yen didn’t react on these comments. The likelihood for intervention could rise much more if USD/JPY trades below 100.
Today:
• France, Germany & Eurozone: Final services PMIs for Jul.
• Eurozone: Retail sales for Jul. This is usually not a major market mover.
• UK: Final services PMI for Jul. The manuf. PMI was revised further down. Any downward revisions in the service index too may bring GBP under renewed selling interest.
• US: ADP employment report for Jul. is exp. 170k vs 172k prev. A solid print could fuel speculation that the NFP also meets its forecast (of 180k) and thereby support USD. Also, ISM non-manufacturing PMI for Jul.
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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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