IronFX Daily Commentary by Charalambos Pissouros | 05/04/2016
April 5, 2016 8:28 am
RBA on hold, Aussie rises • The RBA remained on hold, but reiterated further easing may be needed. • Continued low inflation would provide scope for easier policy. • AUD/USD rose as the Bank did not clearly call for a weaker currency. • This disappointed investors who anticipated a strong currency talk down. • The Bank reaffirmed its data dependency, so AUD direction likely to be determined by incoming data and commodity prices (iron ore).
Today: • France, Germany & Eurozone: Final service-sector PMIs for Mar. • Germany: Factory orders for Feb. Usually not major market mover. • Eurozone: Retail sales for Feb. are exp. to stagnate. • US: Final Markit service-sector and ISM non-manuf. PMIs, both for Mar. A rise in the ISM may prove USD-positive, at least at the release. Trade balance and JOLTS report, both for Feb. • Canada: Trade deficit for Feb. is exp. to widen a bit. • Speakers: Chicago Fed President Charles Evans and ECB Governing Council member Jens Weidmann.
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RBA on hold, Aussie rises
• The RBA remained on hold, but reiterated further easing may be needed.
• Continued low inflation would provide scope for easier policy.
• AUD/USD rose as the Bank did not clearly call for a weaker currency.
• This disappointed investors who anticipated a strong currency talk down.
• The Bank reaffirmed its data dependency, so AUD direction likely to be determined by incoming data and commodity prices (iron ore).
Today:
• France, Germany & Eurozone: Final service-sector PMIs for Mar.
• Germany: Factory orders for Feb. Usually not major market mover.
• Eurozone: Retail sales for Feb. are exp. to stagnate.
• US: Final Markit service-sector and ISM non-manuf. PMIs, both for Mar. A rise in the ISM may prove USD-positive, at least at the release. Trade balance and JOLTS report, both for Feb.
• Canada: Trade deficit for Feb. is exp. to widen a bit.
• Speakers: Chicago Fed President Charles Evans and 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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