IronFX Daily Commentary by Charalambos Pissouros | 03/10/2016
October 3, 2016 9:17 am
Theresa May says Article 50 will be triggered in March • UK PM May said that the “Brexit” negotiations will officially begin by the end of March. • GBP opened with a gap lower as a result (maybe because investors expected a later date). • Focus now shifts to a speech by Chancellor Hammond today, where he could provide details on the UK’s fiscal response to “Brexit”. • A clear signal that the government will abandon its target for a fiscal surplus by 2020, may bring GBP under renewed selling interest.
Today is a PMI day: • France, Germany & Eurozone: Final manuf. PMIs for Sep. • UK: Manufacturing PMI for Sep. is exp. to decline, which could hurt GBP. • US: ISM manufacturing PMI for Sep. is exp. to rise. This may prove USD-positive.
This week: • Tuesday: RBA rate decision. Bank is exp. to stand pat. Focus will be on the statement’s language, which we exp. to be neutral. This may support AUD a bit. Also, UK construction PMI for Sep. • Wednesday: UK services PMI, US ADP employment report and ISM non-manuf. PMI, all for Sep. • Thursday: No major events. • Friday: US employment report for Sep. Expectations are for a solid report, which could support the dollar. Also, Canada’s employment data for Sep. and the UK’s industrial production for Aug.
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
Theresa May says Article 50 will be triggered in March
• UK PM May said that the “Brexit” negotiations will officially begin by the end of March.
• GBP opened with a gap lower as a result (maybe because investors expected a later date).
• Focus now shifts to a speech by Chancellor Hammond today, where he could provide details on the UK’s fiscal response to “Brexit”.
• A clear signal that the government will abandon its target for a fiscal surplus by 2020, may bring GBP under renewed selling interest.
Today is a PMI day:
• France, Germany & Eurozone: Final manuf. PMIs for Sep.
• UK: Manufacturing PMI for Sep. is exp. to decline, which could hurt GBP.
• US: ISM manufacturing PMI for Sep. is exp. to rise. This may prove USD-positive.
This week:
• Tuesday: RBA rate decision. Bank is exp. to stand pat. Focus will be on the statement’s language, which we exp. to be neutral. This may support AUD a bit. Also, UK construction PMI for Sep.
• Wednesday: UK services PMI, US ADP employment report and ISM non-manuf. PMI, all for Sep.
• Thursday: No major events.
• Friday: US employment report for Sep. Expectations are for a solid report, which could support the dollar. Also, Canada’s employment data for Sep. and the UK’s industrial production for Aug.
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
Related Posts: