IronFX Daily Commentary by Charalambos Pissouros | 06/10/2016
October 6, 2016 8:39 am
Strong US PMI data suggest steady economic growth • US ISM non-manuf. PMI for Sep. surged, fueling the dollar rally even further (particularly against JPY). • Focus now turns to tomorrow’s employment data, that could be critical to investors’ expectations for a hike this year.
UK PM Theresa May criticizes BoE policy side-effects • Most noteworthy comment was that BoE policies have increased income inequality. • There wasn’t much impact on GBP. Considering the speculation of a “hard Brexit”, overall outlook for GBP remains negative. • However, we would stay mindful of a corrective rebound in GBP after such a collapse.
Today’s highlights: • Eurozone: ECB releases minutes from Sep. meeting. Usually not a major market mover, but following the “ECB tapering” reports, it could attract some attention. • US: Initial jobless claims for week ended Sep. 30th. • Canada: Building permits for Aug. are exp. to accelerate. • Speakers: ECB Executive Board member Peter Praet.
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Strong US PMI data suggest steady economic growth
• US ISM non-manuf. PMI for Sep. surged, fueling the dollar rally even further (particularly against JPY).
• Focus now turns to tomorrow’s employment data, that could be critical to investors’ expectations for a hike this year.
UK PM Theresa May criticizes BoE policy side-effects
• Most noteworthy comment was that BoE policies have increased income inequality.
• There wasn’t much impact on GBP. Considering the speculation of a “hard Brexit”, overall outlook for GBP remains negative.
• However, we would stay mindful of a corrective rebound in GBP after such a collapse.
Today’s highlights:
• Eurozone: ECB releases minutes from Sep. meeting. Usually not a major market mover, but following the “ECB tapering” reports, it could attract some attention.
• US: Initial jobless claims for week ended Sep. 30th.
• Canada: Building permits for Aug. are exp. to accelerate.
• Speakers: ECB Executive Board member Peter Praet.
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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