IronFX Daily Commentary by Charalambos Pissouros | 15/06/2016
June 15, 2016 8:17 am
FOMC: What signals will they send? • Fed is widely exp. to remain on hold. Focus will be on the updated economic forecasts, the updated “dot plot” and Yellen’s speech. • We exp. upward revisions to the economic forecasts, which may prove USD-positive. • The main reaction will depend on what signals officials send regarding near-term hikes and how the “dot plot” will be revised. • If they keep the door open for a July action, this could strengthen USD.
BoJ to stay sidelined for now • The Bank of Japan is also expected to stand pat, and may sound somewhat dovish. • This could ease JPY gains a bit, but any such reaction could remain short-lived.
As for the indicators: • UK: Employment report for Apr. Unempl. rate is exp. unchanged, avg. hourly earnings are exp. to slow. This could weaken GBP somewhat, but focus remains on fresh polls. • US: Empire State manuf. index for Jun. Also, PPI and industrial production, both for May. Ahead of the FOMC meeting, all three may pass unnoticed. • Speakers: Besides Chair Yellen, ECB Vice President Vitor Constancio and ECB Governing Council member Jens Weidmann speak.
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FOMC: What signals will they send?
• Fed is widely exp. to remain on hold. Focus will be on the updated economic forecasts, the updated “dot plot” and Yellen’s speech.
• We exp. upward revisions to the economic forecasts, which may prove USD-positive.
• The main reaction will depend on what signals officials send regarding near-term hikes and how the “dot plot” will be revised.
• If they keep the door open for a July action, this could strengthen USD.
BoJ to stay sidelined for now
• The Bank of Japan is also expected to stand pat, and may sound somewhat dovish.
• This could ease JPY gains a bit, but any such reaction could remain short-lived.
As for the indicators:
• UK: Employment report for Apr. Unempl. rate is exp. unchanged, avg. hourly earnings are exp. to slow. This could weaken GBP somewhat, but focus remains on fresh polls.
• US: Empire State manuf. index for Jun. Also, PPI and industrial production, both for May. Ahead of the FOMC meeting, all three may pass unnoticed.
• Speakers: Besides Chair Yellen, ECB Vice President Vitor Constancio and ECB Governing Council member Jens Weidmann speak.
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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