IronFX Daily Commentary by Charalambos Pissouros | 12/07/2016
July 12, 2016 8:28 am
Theresa May to be Britain’s next Prime Minister • Theresa May is expected to replace Cameron as Britain’s PM by Wednesday. • GBP surged on the news, as this dispelled a lot of political uncertainty. • May repeated yesterday that “Brexit means Brexit”. The question now is when she will trigger Article 50 (she prev. said by year-end). • We maintain our GBP-negative outlook and will treat this as a corrective move of the currency’s overall downtrend. • Soft post-referendum data and policy easing by the BoE may keep GBP under selling pressure in the foreseeable future.
Today: • Sweden: CPI for Jun. is exp. to accelerate, which could support SEK. • UK: BoE minutes of July FPC meeting, where officials reduced banks’ capital requirements. The reaction in GBP was limited on the announcement of the measures, so we expect a muted reaction from the minutes as well. • US: JOLTS job openings for May are exp. to decline a bit. • Speakers: St. Louis Fed Pres. James Bullard and Fed Board Gov. Daniel Tarullo.
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
Theresa May to be Britain’s next Prime Minister
• Theresa May is expected to replace Cameron as Britain’s PM by Wednesday.
• GBP surged on the news, as this dispelled a lot of political uncertainty.
• May repeated yesterday that “Brexit means Brexit”. The question now is when she will trigger Article 50 (she prev. said by year-end).
• We maintain our GBP-negative outlook and will treat this as a corrective move of the currency’s overall downtrend.
• Soft post-referendum data and policy easing by the BoE may keep GBP under selling pressure in the foreseeable future.
Today:
• Sweden: CPI for Jun. is exp. to accelerate, which could support SEK.
• UK: BoE minutes of July FPC meeting, where officials reduced banks’ capital requirements. The reaction in GBP was limited on the announcement of the measures, so we expect a muted reaction from the minutes as well.
• US: JOLTS job openings for May are exp. to decline a bit.
• Speakers: St. Louis Fed Pres. James Bullard and Fed Board Gov. Daniel Tarullo.
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
Related Posts: