IronFX Daily Commentary by Charalambos Pissouros | 15/04/2016
April 15, 2016 8:33 am
Has China stabilized? • China’s GDP for Q1 slowed slightly, but all the data for Mar. beat expectations. • Thus, while the global turmoil of Jan. and Feb. weighed on growth, the economy may have stabilized in Mar. • This may contribute to the return of a pro-risk sentiment, which could support commodity currencies AUD, NZD and equity markets. • Furthermore, it could curb demand for safe havens like JPY, gold and CHF.
BoE on hold, offers more “Brexit” warnings • BoE remained on hold and warned that “Brexit” uncertainties may soften GDP growth in the first half of 2016. • Data prior to the referendum may be of secondary importance to the Bank. • Polls are very close, so we remain cautious of future GBP rallies until June 23rd.
Today: • Canada: Manuf. sales for Feb. are exp. to fall. This could prove CAD-negative. • US: Empire State manufacturing index and prel. U of M consumer sentiment, both for Apr. Also, IP for Mar. As all figures are exp. to improve, USD could gain. • Speakers: Chicago Fed President Charles Evans.
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Has China stabilized?
• China’s GDP for Q1 slowed slightly, but all the data for Mar. beat expectations.
• Thus, while the global turmoil of Jan. and Feb. weighed on growth, the economy may have stabilized in Mar.
• This may contribute to the return of a pro-risk sentiment, which could support commodity currencies AUD, NZD and equity markets.
• Furthermore, it could curb demand for safe havens like JPY, gold and CHF.
BoE on hold, offers more “Brexit” warnings
• BoE remained on hold and warned that “Brexit” uncertainties may soften GDP growth in the first half of 2016.
• Data prior to the referendum may be of secondary importance to the Bank.
• Polls are very close, so we remain cautious of future GBP rallies until June 23rd.
Today:
• Canada: Manuf. sales for Feb. are exp. to fall. This could prove CAD-negative.
• US: Empire State manufacturing index and prel. U of M consumer sentiment, both for Apr. Also, IP for Mar. As all figures are exp. to improve, USD could gain.
• Speakers: Chicago Fed President Charles Evans.
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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