IronFX Daily Commentary by Charalambos Pissouros | 04/10/2016
October 4, 2016 8:38 am
RBA remains on hold and maintains its neutral view • RBA stood pat. The statement was neutral overall, offering little new information. • Reaction in AUD/USD was limited, perhaps due to the lack of forward guidance. • With a neutral stance on policy, we believe that AUD could remain supported. • Next event to determine whether the RBA will ease again: Q3 CPI data (26th Oct.).
Yen on the back foot during the Asian session • JPY weakened across the board during the Asian morning. • Possible catalysts: softness in the Prices part of the Tankan survey. Also, broad USD strength may have pushed USD/JPY higher.
Today’s highlights: • UK: Construction PMI for Sep. is exp. to decline marginally. Nonetheless, we see some upside risks to the forecast, perhaps for unchanged print or even a tick higher. If so, this could reverse some of GBP’s recent losses. • Eurozone: PPI for Aug. is exp. to have fallen again, albeit at a much slower pace. • Speakers: Richmond Fed President Jeffrey Lacker.
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RBA remains on hold and maintains its neutral view
• RBA stood pat. The statement was neutral overall, offering little new information.
• Reaction in AUD/USD was limited, perhaps due to the lack of forward guidance.
• With a neutral stance on policy, we believe that AUD could remain supported.
• Next event to determine whether the RBA will ease again: Q3 CPI data (26th Oct.).
Yen on the back foot during the Asian session
• JPY weakened across the board during the Asian morning.
• Possible catalysts: softness in the Prices part of the Tankan survey. Also, broad USD strength may have pushed USD/JPY higher.
Today’s highlights:
• UK: Construction PMI for Sep. is exp. to decline marginally. Nonetheless, we see some upside risks to the forecast, perhaps for unchanged print or even a tick higher. If so, this could reverse some of GBP’s recent losses.
• Eurozone: PPI for Aug. is exp. to have fallen again, albeit at a much slower pace.
• Speakers: Richmond Fed President Jeffrey Lacker.
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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