IronFX Daily Commentary by Charalambos Pissouros | 10/03/2016
March 10, 2016 10:24 am
ECB meeting: What will they do? • The Bank is expected to cut the deposit rate by 0.1% and increase the QE program. • If the measures are more aggressive than expected this could be EUR-negative. • But market expectations are high, so if they under-deliver, EUR could surge (as in Dec.) • After the decision, the focus will be on Draghi’s press conference.
RBNZ cuts rates in surprise move • NZD/USD plunged 140 pips after the RBNZ cut its official cash rate in a surprise move. • Officials noted falling inflation expectations and increased financial volatility as the reasons behind the move. • They maintained an easing bias and reiterated that a weaker Kiwi is needed. NZD could remain under selling pressure.
BoC on hold as expected • The BoC remained on hold and noted the upcoming fiscal budget. CAD strengthened on the news. • A significant budget increase on Mar. 22nd is needed to keep CAD supported.
Today: • Germany: Trade balance for Jan. • Norway: CPI for Feb. is exp. to remain unchanged. • US: Initial jobless claims for week ended Mar.4th are exp. to decline.
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ECB meeting: What will they do?
• The Bank is expected to cut the deposit rate by 0.1% and increase the QE program.
• If the measures are more aggressive than expected this could be EUR-negative.
• But market expectations are high, so if they under-deliver, EUR could surge (as in Dec.)
• After the decision, the focus will be on Draghi’s press conference.
RBNZ cuts rates in surprise move
• NZD/USD plunged 140 pips after the RBNZ cut its official cash rate in a surprise move.
• Officials noted falling inflation expectations and increased financial volatility as the reasons behind the move.
• They maintained an easing bias and reiterated that a weaker Kiwi is needed. NZD could remain under selling pressure.
BoC on hold as expected
• The BoC remained on hold and noted the upcoming fiscal budget. CAD strengthened on the news.
• A significant budget increase on Mar. 22nd is needed to keep CAD supported.
Today:
• Germany: Trade balance for Jan.
• Norway: CPI for Feb. is exp. to remain unchanged.
• US: Initial jobless claims for week ended Mar.4th are exp. to decline.
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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