IronFX Daily Commentary by Charalambos Pissouros | 07/07/2016
July 7, 2016 8:29 am
June FOMC minutes: Nothing too surprising • June FOMC minutes confirmed that the UK vote could delay the next Fed rate hike. • Weak NFP figures also discussed, though deemed by many as “statistical noise”. NFP on Friday may attract even more attention than usual. • Despite the Fed’s cautiousness, we see risks to USD as tilted to the upside. • Better data could lead investors to re-price Fed hikes and boost USD.
Today: • Eurozone: ECB minutes of Jun. policy meeting. Even though these are usually not major market movers, a discussion over what instruments may be appropriate to use in case of a “Brexit” may attract attention. • UK: I.P for May is exp. to fall, but pre-referendum data may pass unnoticed. • US: ADP employment report for Jun. is exp. 159k from 173k prev. Despite the decline, if the figure meets the forecast, USD could gain. • Canada: Ivey PMI for Jun. and building permits for May. Both are exp. to rise. • Speakers: ECB Vice President Vitor Constancio and ECB Executive Board member Sabine Lautenschlager.
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June FOMC minutes: Nothing too surprising
• June FOMC minutes confirmed that the UK vote could delay the next Fed rate hike.
• Weak NFP figures also discussed, though deemed by many as “statistical noise”. NFP on Friday may attract even more attention than usual.
• Despite the Fed’s cautiousness, we see risks to USD as tilted to the upside.
• Better data could lead investors to re-price Fed hikes and boost USD.
Today:
• Eurozone: ECB minutes of Jun. policy meeting. Even though these are usually not major market movers, a discussion over what instruments may be appropriate to use in case of a “Brexit” may attract attention.
• UK: I.P for May is exp. to fall, but pre-referendum data may pass unnoticed.
• US: ADP employment report for Jun. is exp. 159k from 173k prev. Despite the decline, if the figure meets the forecast, USD could gain.
• Canada: Ivey PMI for Jun. and building permits for May. Both are exp. to rise.
• Speakers: ECB Vice President Vitor Constancio and ECB Executive Board member Sabine Lautenschlager.
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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