IronFX Daily Commentary by Charalambos Pissouros | 11/04/2016
April 11, 2016 9:03 am
Oil soars as US rigs continue to decrease • WTI opened higher on Monday as the number of active US oil rigs continued to fall. • Further declines in rig count or inventories may keep prices supported in the short-term. • Focus remains on Apr. 17th meeting, where investors are skeptical of any freeze deal.
Today: • G7: Foreign ministers from G7 economies meeting in Japan. • Norway: CPI for Mar. is exp. to stay above target. Reaction in NOK may remain limited. • UK: George Osborne presents an analysis on the costs and benefits of Britain’s EU referendum. If this emphasizes the risks of a potential exit, it could prove GBP-negative. • Speakers: BoJ Governor Haruhiko Kuroda.
This week: • Tuesday: UK CPI for Mar. is exp. to accelerate. This could support GBP at the release. • Wednesday: BoC policy meeting. Bank is exp. to remain on hold, reaction in Loonie may depend on tone of statement. China’s trade balance for Mar. and US retail sales for Mar. • Thursday: BoE policy meeting. Officials are exp. to stand pat. Any references to “Brexit” uncertainties could hurt GBP. US CPI for Mar. • Friday: China’s GDP for Q1, industrial production, fixed asset investment and retail sales, all for Mar. 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
Oil soars as US rigs continue to decrease
• WTI opened higher on Monday as the number of active US oil rigs continued to fall.
• Further declines in rig count or inventories may keep prices supported in the short-term.
• Focus remains on Apr. 17th meeting, where investors are skeptical of any freeze deal.
Today:
• G7: Foreign ministers from G7 economies meeting in Japan.
• Norway: CPI for Mar. is exp. to stay above target. Reaction in NOK may remain limited.
• UK: George Osborne presents an analysis on the costs and benefits of Britain’s EU referendum. If this emphasizes the risks of a potential exit, it could prove GBP-negative.
• Speakers: BoJ Governor Haruhiko Kuroda.
This week:
• Tuesday: UK CPI for Mar. is exp. to accelerate. This could support GBP at the release.
• Wednesday: BoC policy meeting. Bank is exp. to remain on hold, reaction in Loonie may depend on tone of statement. China’s trade balance for Mar. and US retail sales for Mar.
• Thursday: BoE policy meeting. Officials are exp. to stand pat. Any references to “Brexit” uncertainties could hurt GBP. US CPI for Mar.
• Friday: China’s GDP for Q1, industrial production, fixed asset investment and retail sales, all for Mar.
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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