IronFX Daily Commentary by Charalambos Pissouros | 06/12/2016
December 6, 2016 9:04 am
RBA stands pat and maintains its neutral tone • There are reasonable prospects for achieving sustainable growth by keeping rates unchanged. • No clear signs with regards to further easing. • AUD slid somewhat as officials reiterated that rising AUD could complicate economic transition. • New economic data heading into the next meeting may clear the picture. • We are flat on AUD; look the crosses: AUD/JPY could gain, AUD/USD may remain pressured.
On Monday: The UK Supreme Court kicked off • Hearings to last 4 days; Judgment likely by the end of January. • Gov. lawyer challenged by judges. “If our accession was the result of a joint effort, should our departure not equally be so?” • Given that there is a lot to de done yet, and bearing recent “soft Brexit” comments, the pound may continue to gain for a while.
Today: • Eurozone: Final GDP for Q3; to confirm the preliminary estimate. If so EUR reaction may remain muted. • Germany: Factory orders for October exp. to rebound. More positive data our from Eurozone. • New Zealand: GDT(Global Dairy Trade) index. Further improvement may support NZD. • US: Factory orders for October to accelerate notably. Supported by the strong rebound in durable goods. Trade balance for October is coming out as well. • Canada: Trade data for October and Ivey PMI for November.
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RBA stands pat and maintains its neutral tone
• There are reasonable prospects for achieving sustainable growth by keeping rates unchanged.
• No clear signs with regards to further easing.
• AUD slid somewhat as officials reiterated that rising AUD could complicate economic transition.
• New economic data heading into the next meeting may clear the picture.
• We are flat on AUD; look the crosses: AUD/JPY could gain, AUD/USD may remain pressured.
On Monday: The UK Supreme Court kicked off
• Hearings to last 4 days; Judgment likely by the end of January.
• Gov. lawyer challenged by judges. “If our accession was the result of a joint effort, should our departure not equally be so?”
• Given that there is a lot to de done yet, and bearing recent “soft Brexit” comments, the pound may continue to gain for a while.
Today:
• Eurozone: Final GDP for Q3; to confirm the preliminary estimate. If so EUR reaction may remain muted.
• Germany: Factory orders for October exp. to rebound. More positive data our from Eurozone.
• New Zealand: GDT(Global Dairy Trade) index. Further improvement may support NZD.
• US: Factory orders for October to accelerate notably. Supported by the strong rebound in durable goods. Trade balance for October is coming out as well.
• Canada: Trade data for October and Ivey PMI for November.
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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