IronFX Daily Commentary by Charalambos Pissouros | 11/05/2016
May 11, 2016 8:27 am
Kiwi spikes on RBNZ report • RBNZ’s Financial Stability Report did not introduce any new stability measures. • This disappointed investors who expected measures that would allow the Bank more freedom to cut rates further in the future. • Thus, NZD/USD surged on the news, on speculation the RBNZ will remain on hold for now. • Next data to determine NZD direction are 2-year inflation expectations, due next week.
Today: • UK: Industrial production for Mar. is exp. +0.5% mom vs prev. -0.3% mom. However, we see downside risks to the forecast, perhaps for IP to rise by less than expected. If so, this could prove GBP-negative. • Speakers: UK Chancellor of the Exchequer George Osborne and Riksbank Governor Stefan Ingves.
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Kiwi spikes on RBNZ report
• RBNZ’s Financial Stability Report did not introduce any new stability measures.
• This disappointed investors who expected measures that would allow the Bank more freedom to cut rates further in the future.
• Thus, NZD/USD surged on the news, on speculation the RBNZ will remain on hold for now.
• Next data to determine NZD direction are 2-year inflation expectations, due next week.
Today:
• UK: Industrial production for Mar. is exp. +0.5% mom vs prev. -0.3% mom. However, we see downside risks to the forecast, perhaps for IP to rise by less than expected. If so, this could prove GBP-negative.
• Speakers: UK Chancellor of the Exchequer George Osborne and Riksbank Governor Stefan Ingves.
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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