IronFX Daily Commentary by Charalambos Pissouros | 08/03/2016
March 8, 2016 9:37 am
China’s February exports collapse • China’s exports dropped by 25.4% yoy in February, while imports fell 13.8% yoy. • Softer global demand seen as the major drag on exports. • The weak trade data could ease some of the recent upward pressure on AUD&NZD.
WTI rallies to USD 38 • Oil prices rallied on Monday, after Ecuador called for a meeting of Latin American producers end of this week. • Oil may have also been supported by expectations of further declines in US shale. • If a consensus is reached at Friday’s meeting, prices could move higher.
Today: • Germany: Industrial production for Jan. is exp. to rise. • Eurozone: Final GDP for Q4 is exp. to confirm prel. estimate. Not a major market mover. • US: NFIB small business optimism for Feb. • Canada: Housing starts for Feb. and building permits for Jan. • Speakers: BoE Governor Mark Carney speaks on Brexit. A possible reiteration that the Bank could ease policy further if needed, could prove GBP-negative.
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China’s February exports collapse
• China’s exports dropped by 25.4% yoy in February, while imports fell 13.8% yoy.
• Softer global demand seen as the major drag on exports.
• The weak trade data could ease some of the recent upward pressure on AUD&NZD.
WTI rallies to USD 38
• Oil prices rallied on Monday, after Ecuador called for a meeting of Latin American producers end of this week.
• Oil may have also been supported by expectations of further declines in US shale.
• If a consensus is reached at Friday’s meeting, prices could move higher.
Today:
• Germany: Industrial production for Jan. is exp. to rise.
• Eurozone: Final GDP for Q4 is exp. to confirm prel. estimate. Not a major market mover.
• US: NFIB small business optimism for Feb.
• Canada: Housing starts for Feb. and building permits for Jan.
• Speakers: BoE Governor Mark Carney speaks on Brexit. A possible reiteration that the Bank could ease policy further if needed, could prove GBP-negative.
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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