IronFX Daily Commentary by Charalambos Pissouros | 09/05/2016
May 9, 2016 8:49 am
Soft US jobs data scale back Fed hike expectations • US jobs data for Apr. disappointed, raising concerns about one of the few Fed bright spots. • Dollar weakened initially but recovered its losses immediately to trade even higher. • USD’s forthcoming direction to stay sensitive on the incoming data. (retail sales Friday.)
Oil prices open higher • Reasons: Canada’s wildfires have grown, China’s oil imports for Apr. rose and Saudi Arabia replaced its oil minister.
Today: • Germany: Factory orders for Mar. Usually not a major market mover. • Speakers: Chicago Fed President Charles Evans and Minneapolis Fed President Neel Kashkari.
This week: • Tuesday: China’s CPI & PPI for Apr. Both are exp. to improve. • Wednesday: UK industrial production for Mar. is exp. to rise. • Thursday: BoE meeting: Widely expected to stand pat. Focus to be on the updated forecasts and Gov. Carney’s comments. Norges Bank policy meeting. • Friday: Eurozone prel. GDP for Q1 and US retail sales for Apr.
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Soft US jobs data scale back Fed hike expectations
• US jobs data for Apr. disappointed, raising concerns about one of the few Fed bright spots.
• Dollar weakened initially but recovered its losses immediately to trade even higher.
• USD’s forthcoming direction to stay sensitive on the incoming data. (retail sales Friday.)
Oil prices open higher
• Reasons: Canada’s wildfires have grown, China’s oil imports for Apr. rose and Saudi Arabia replaced its oil minister.
Today:
• Germany: Factory orders for Mar. Usually not a major market mover.
• Speakers: Chicago Fed President Charles Evans and Minneapolis Fed President Neel Kashkari.
This week:
• Tuesday: China’s CPI & PPI for Apr. Both are exp. to improve.
• Wednesday: UK industrial production for Mar. is exp. to rise.
• Thursday: BoE meeting: Widely expected to stand pat. Focus to be on the updated forecasts and Gov. Carney’s comments. Norges Bank policy meeting.
• Friday: Eurozone prel. GDP for Q1 and US retail sales for Apr.
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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