IronFX Daily Commentary by Charalambos Pissouros | 09/09/2016
September 9, 2016 8:36 am
ECB remains on hold and Draghi offers no easing hints • ECB kept its policy unchanged and did not extend the duration of its QE program. • Draghi was neutral and offered no hints regarding further near-term easing. • Thus, EUR/USD traded in a choppy manner within a narrow range during the meeting. It moved lower in the aftermath. • Given the ECB’s neutrality and the diminishing expectations for a Fed Sep. hike, EUR/USD may trade a bit higher in the short-term.
Today: • Norway: CPI for Aug. is exp. to slow. This could open the door for a rate cut by the Norges Bank in September, and thereby hurt NOK. • UK: Trade balance for Jul. • Canada: Unemployment rate for Aug. is exp. unchanged, net change in empl. to have turned positive. This could prove CAD-positive. • Speakers: Boston Fed President Eric Rosengren and Dallas Fed President Robert Kaplan.
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ECB remains on hold and Draghi offers no easing hints
• ECB kept its policy unchanged and did not extend the duration of its QE program.
• Draghi was neutral and offered no hints regarding further near-term easing.
• Thus, EUR/USD traded in a choppy manner within a narrow range during the meeting. It moved lower in the aftermath.
• Given the ECB’s neutrality and the diminishing expectations for a Fed Sep. hike, EUR/USD may trade a bit higher in the short-term.
Today:
• Norway: CPI for Aug. is exp. to slow. This could open the door for a rate cut by the Norges Bank in September, and thereby hurt NOK.
• UK: Trade balance for Jul.
• Canada: Unemployment rate for Aug. is exp. unchanged, net change in empl. to have turned positive. This could prove CAD-positive.
• Speakers: Boston Fed President Eric Rosengren and Dallas Fed President Robert Kaplan.
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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