IronFX Daily Commentary by Charalambos Pissouros | 14/04/2016
April 14, 2016 8:34 am
BoE to stand pat • The Bank of England is widely expected to remain unanimously on hold. • Economic data have been soft in Q1, weighed on by the “Brexit” risk. • Referendum polls extremely close, leaving little room for hike discussions. • Reaction in GBP will highly depend on the minutes. Any discussion of the possibility of a rate cut could prove GBP-negative.
BoC remains sidelined, upgrades economic forecasts • BoC stood pat yesterday and revised up its forecasts due to the fiscal stimulus. • Near-term reaction in CAD will depend on the outcome of Doha meeting. • Medium-term, the country’s improving fundamentals support CAD appreciation.
Today: • Eurozone: Final CPI for Mar. Usually not a major market mover. • US: CPI for Mar. is exp. to accelerate, but the core rate is forecast to remain unchanged. Reaction in USD may stay limited. Initial jobless claims for week ended Apr. 8th. • Speakers: Atlanta Fed President Dennis Lockhart.
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BoE to stand pat
• The Bank of England is widely expected to remain unanimously on hold.
• Economic data have been soft in Q1, weighed on by the “Brexit” risk.
• Referendum polls extremely close, leaving little room for hike discussions.
• Reaction in GBP will highly depend on the minutes. Any discussion of the possibility of a rate cut could prove GBP-negative.
BoC remains sidelined, upgrades economic forecasts
• BoC stood pat yesterday and revised up its forecasts due to the fiscal stimulus.
• Near-term reaction in CAD will depend on the outcome of Doha meeting.
• Medium-term, the country’s improving fundamentals support CAD appreciation.
Today:
• Eurozone: Final CPI for Mar. Usually not a major market mover.
• US: CPI for Mar. is exp. to accelerate, but the core rate is forecast to remain unchanged. Reaction in USD may stay limited. Initial jobless claims for week ended Apr. 8th.
• Speakers: Atlanta Fed President Dennis Lockhart.
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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