IronFX Daily Commentary by Charalambos Pissouros | 04/04/2016
April 4, 2016 9:05 am
Solid US jobs data fall short of changing Fed rate path views • NFP rose 215k, hourly earnings accelerated, but the unemployment rate rose. • The increase in the unemployment rate was due to more people entering the labor force. • Fed’s Yellen already said that the labor market is strong and the focus is on the international developments. • So we need more strong data and global calmness to raise speculation of a near-term rate hike and support USD.
Today: • Eurozone: Unemployment rate and PPI, both for Feb. Not major market movers. • UK: Construction PMI for Mar. is exp. to decline. Could prove GBP-negative. • US: Factory orders for Feb. are exp. to fall sharply. This could hurt USD a bit. • Speakers: BoC Gov. Stephen Poloz and Boston Fed President Eric Rosengren.
This week: • Tuesday: RBA policy meeting. Bank exp. to remain on hold but we expect officials to signal the need for a weaker AUD, which could decline a bit from its recent highs. • Wednesday: FOMC March meeting minutes. Reaction in USD may remain limited. • Thursday: ECB March policy minutes. Usually not a major market mover. • Friday: UK industrial output for Feb. Canada’s employment report for Mar.
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Solid US jobs data fall short of changing Fed rate path views
• NFP rose 215k, hourly earnings accelerated, but the unemployment rate rose.
• The increase in the unemployment rate was due to more people entering the labor force.
• Fed’s Yellen already said that the labor market is strong and the focus is on the international developments.
• So we need more strong data and global calmness to raise speculation of a near-term rate hike and support USD.
Today:
• Eurozone: Unemployment rate and PPI, both for Feb. Not major market movers.
• UK: Construction PMI for Mar. is exp. to decline. Could prove GBP-negative.
• US: Factory orders for Feb. are exp. to fall sharply. This could hurt USD a bit.
• Speakers: BoC Gov. Stephen Poloz and Boston Fed President Eric Rosengren.
This week:
• Tuesday: RBA policy meeting. Bank exp. to remain on hold but we expect officials to signal the need for a weaker AUD, which could decline a bit from its recent highs.
• Wednesday: FOMC March meeting minutes. Reaction in USD may remain limited.
• Thursday: ECB March policy minutes. Usually not a major market mover.
• Friday: UK industrial output for Feb. Canada’s employment report for Mar.
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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