IronFX Daily Commentary by Charalambos Pissouros | 12/05/2016
May 12, 2016 8:48 am
BoE’s last “Super Thursday” ahead of the referendum • Rate decision, meeting minutes and Inflation Report with updated forecasts. • Then, Gov. Carney presents the Inflation Report in a press conference. • Bank is expected to remain unanimously on hold, so the focus will be on the forecasts and any “Brexit” comments by Carney. • We exp. the Bank to revise down its near-term GDP growth forecasts. Any sharp revisions could bring GBP under selling interest.
Norges Bank to stand pat amid an improving outlook • NB is exp. to stand pat following a rate cut at the last meeting and higher oil prices. • As there are some expectations for a cut, NOK could strengthen on the decision.
Today: • Sweden: CPI for Apr. is exp. to accelerate, which could support SEK. • Norway: GDP for Q1, but may pass unnoticed (same time as Bank decision). • Eurozone: Industrial production for Mar. Usually not a major market mover. • US: Initial jobless claims for the week ended May 6th. • Speakers: Besides Governors Carney and Olsen, ECB Vice President Vitor Constancio and Boston Fed President Eric Rosengren.
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BoE’s last “Super Thursday” ahead of the referendum
• Rate decision, meeting minutes and Inflation Report with updated forecasts.
• Then, Gov. Carney presents the Inflation Report in a press conference.
• Bank is expected to remain unanimously on hold, so the focus will be on the forecasts and any “Brexit” comments by Carney.
• We exp. the Bank to revise down its near-term GDP growth forecasts. Any sharp revisions could bring GBP under selling interest.
Norges Bank to stand pat amid an improving outlook
• NB is exp. to stand pat following a rate cut at the last meeting and higher oil prices.
• As there are some expectations for a cut, NOK could strengthen on the decision.
Today:
• Sweden: CPI for Apr. is exp. to accelerate, which could support SEK.
• Norway: GDP for Q1, but may pass unnoticed (same time as Bank decision).
• Eurozone: Industrial production for Mar. Usually not a major market mover.
• US: Initial jobless claims for the week ended May 6th.
• Speakers: Besides Governors Carney and Olsen, ECB Vice President Vitor Constancio and Boston Fed President Eric Rosengren.
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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