IronFX Daily Commentary by Charalambos Pissouros | 13/04/2016
April 13, 2016 8:37 am
Oil rallies on reports of output freeze deal • Oil prices jumped after reports that Russia and Saudi Arabia reached a deal regardless if Iran joins. • A Kremlin press secretary said that “there is hope” a deal can be reached. • This increases speculation for a deal on Sunday, which may keep oil prices supported until the event.
BoC to stand pat and appear optimistic • The Bank of Canada is widely expected to remain on hold today. • Reaction in CAD is likely to depend on the tone of the statement. • We expect an upbeat tone, which could add to the Loonie’s recent gains.
Today: • France: Final CPI for Mar. Usually not major market mover. • Eurozone: Industrial production for Feb. is exp. to tumble. • US: Retail sales for Mar. are exp. to rise, which could prove USD-positive. Also, the PPI for Mar. is exp. to accelerate. Fed releases Beige book. • Speakers: BoC Governor Poloz holds a press conference after rate decision.
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Oil rallies on reports of output freeze deal
• Oil prices jumped after reports that Russia and Saudi Arabia reached a deal regardless if Iran joins.
• A Kremlin press secretary said that “there is hope” a deal can be reached.
• This increases speculation for a deal on Sunday, which may keep oil prices supported until the event.
BoC to stand pat and appear optimistic
• The Bank of Canada is widely expected to remain on hold today.
• Reaction in CAD is likely to depend on the tone of the statement.
• We expect an upbeat tone, which could add to the Loonie’s recent gains.
Today:
• France: Final CPI for Mar. Usually not major market mover.
• Eurozone: Industrial production for Feb. is exp. to tumble.
• US: Retail sales for Mar. are exp. to rise, which could prove USD-positive. Also, the PPI for Mar. is exp. to accelerate. Fed releases Beige book.
• Speakers: BoC Governor Poloz holds a press conference after rate decision.
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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