IronFX Daily Commentary by Charalambos Pissouros | 04/05/2016
May 4, 2016 9:07 am
New Zealand’s jobs report: Good or bad? • NZ’s Q1 jobs report showed an increase in the unemployment rate, mainly due to a rise in the participation rate. • An encouraging report overall, which suggests the economy is performing well. • Focus stays on the 2-year inflation expectations, due out mid-May. This may determine if the RBNZ will cut rates or not. • Until then, NZD/USD could continue lower, as bets for further easing are high.
Today: • Sweden: Riksbank releases minutes of its April policy meeting. • Eurozone: Final services PMI for Apr. Usually not a major market mover. • UK: Construction PMI for Apr. is exp. to decline a bit. This could prove GBP-negative. • US: ADP employment report for Apr. is exp. 196k vs prev. 200k. This could support USD. Also, ISM non-manufacturing PMI for Apr. and factory orders for Mar. • Speakers: British PM David Cameron speaks before parliament on “Brexit”, ECB Governing Council member Jens Weidmann.
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New Zealand’s jobs report: Good or bad?
• NZ’s Q1 jobs report showed an increase in the unemployment rate, mainly due to a rise in the participation rate.
• An encouraging report overall, which suggests the economy is performing well.
• Focus stays on the 2-year inflation expectations, due out mid-May. This may determine if the RBNZ will cut rates or not.
• Until then, NZD/USD could continue lower, as bets for further easing are high.
Today:
• Sweden: Riksbank releases minutes of its April policy meeting.
• Eurozone: Final services PMI for Apr. Usually not a major market mover.
• UK: Construction PMI for Apr. is exp. to decline a bit. This could prove GBP-negative.
• US: ADP employment report for Apr. is exp. 196k vs prev. 200k. This could support USD. Also, ISM non-manufacturing PMI for Apr. and factory orders for Mar.
• Speakers: British PM David Cameron speaks before parliament on “Brexit”, ECB Governing Council member Jens Weidmann.
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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