IronFX Daily Commentary by Charalambos Pissouros | 04/07/2016
July 4, 2016 8:50 am
UK’s Osborne says he plans to slash corporate tax • UK Chancellor Osborne said that he is planning to cut the corporate tax rate to 15% from 20%. • This can help the economy to attract foreign investments despite the “Brexit” uncertainty. • That could ease some of the downward pressure on sterling.
Today: • UK: Construction PMI for Jun. but any pre-referendum data may pass unnoticed. • Canada: RBC manufacturing PMI for Jun. but no forecast available.
This week: • Tuesday: RBA rate decision. We exp. the Bank to remain on hold and to not signal imminent policy action, something that could support AUD. • Wednesday: Riksbank rate decision. We exp. the officials to stand pat, but to signal a strong easing bias moving forward, which may prove SEK-negative. Also, FOMC minutes of June meeting. Investors will look for clues on how “Brexit” could affect the rate path. • Thursday: US ADP employment report for Jun. and UK industrial production for May. • Friday: US employment report for Jun. is exp. to be solid overall. This could support USD. Canada’s employment report for Jun. is coming out as well.
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UK’s Osborne says he plans to slash corporate tax
• UK Chancellor Osborne said that he is planning to cut the corporate tax rate to 15% from 20%.
• This can help the economy to attract foreign investments despite the “Brexit” uncertainty.
• That could ease some of the downward pressure on sterling.
Today:
• UK: Construction PMI for Jun. but any pre-referendum data may pass unnoticed.
• Canada: RBC manufacturing PMI for Jun. but no forecast available.
This week:
• Tuesday: RBA rate decision. We exp. the Bank to remain on hold and to not signal imminent policy action, something that could support AUD.
• Wednesday: Riksbank rate decision. We exp. the officials to stand pat, but to signal a strong easing bias moving forward, which may prove SEK-negative. Also, FOMC minutes of June meeting. Investors will look for clues on how “Brexit” could affect the rate path.
• Thursday: US ADP employment report for Jun. and UK industrial production for May.
• Friday: US employment report for Jun. is exp. to be solid overall. This could support USD. Canada’s employment report for Jun. is coming out as well.
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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