IronFX Daily Commentary by Charalambos Pissouros | 13/12/2016
December 13, 2016 8:32 am
UK’s Hammond offers the latest “soft Brexit” signal • UK Chancellor Hammond said that “Brexit” could take longer to finalize than the two years outlined in Article 50. • A period of adjustment would help UK financial stability, businesses, and a smoother exit. • GBP/USD was already surging ahead of these comments and continued a bit higher thereafter. • Given this optimism regarding a “soft Brexit”, GBP could gain further, at least ahead of the BoE.
Dow Jones flirts with the psychological 20000 area • Both the Dow Jones and the S&P 500 hit new all-time highs yesterday. • Last month’s rally in stocks may be due to speculation for higher future inflation (Trump). • We could see further gains in stocks heading into tomorrow’s FOMC decision. • But we are skeptical in the aftermath, in case of a “hawkish” dot plot.
Today: • Germany: ZEW survey for Dec. Both the current conditions and the expectations indices are exp. to rise. • Sweden: CPI for Nov is exp. to have accelerated. This may support SEK. • UK: CPI rate for Nov. is also exp. to have risen, which could prove positive for GBP. • US: NFIB small business optimism for Nov.
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UK’s Hammond offers the latest “soft Brexit” signal
• UK Chancellor Hammond said that “Brexit” could take longer to finalize than the two years outlined in Article 50.
• A period of adjustment would help UK financial stability, businesses, and a smoother exit.
• GBP/USD was already surging ahead of these comments and continued a bit higher thereafter.
• Given this optimism regarding a “soft Brexit”, GBP could gain further, at least ahead of the BoE.
Dow Jones flirts with the psychological 20000 area
• Both the Dow Jones and the S&P 500 hit new all-time highs yesterday.
• Last month’s rally in stocks may be due to speculation for higher future inflation (Trump).
• We could see further gains in stocks heading into tomorrow’s FOMC decision.
• But we are skeptical in the aftermath, in case of a “hawkish” dot plot.
Today:
• Germany: ZEW survey for Dec. Both the current conditions and the expectations indices are exp. to rise.
• Sweden: CPI for Nov is exp. to have accelerated. This may support SEK.
• UK: CPI rate for Nov. is also exp. to have risen, which could prove positive for GBP.
• US: NFIB small business optimism for Nov.
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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