IronFX Daily Commentary by Charalambos Pissouros | 15/07/2016
July 15, 2016 9:44 am
• Bank of England holds its fire, signals easing in August • BoE kept interest rates on hold with an 8-1 vote, against expectations of a 25bps cut. • Most members expect policy to be loosened in August. • GBP surged on the news. We will treat this positive reaction as a corrective move of the currency’s overall downtrend. • We exp. soft post-referendum data, speculation for easing and signs of slowing investment inflows, to bring GBP under renewed selling interest. • China’s Q2 economic growth beats forecast • China’s GDP for Q2, retail sales & industrial prod. for June, all beat their estimates. • This may keep global sentiment elevated for a while, which could benefit AUD & NZD.
• Today: • Eurozone: Final CPI for Jun. is exp. to confirm its prel. estimate. • US: Retail sales are exp. to slow, while the CPI to accelerate, both for Jun. Given the mixed expectations, the reaction in USD could remain somewhat limited unless we have significant surprises. Also, industrial production for Jun. and prel. U of M consumer sentiment for Jul.
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• Bank of England holds its fire, signals easing in August
• BoE kept interest rates on hold with an 8-1 vote, against expectations of a 25bps cut.
• Most members expect policy to be loosened in August.
• GBP surged on the news. We will treat this positive reaction as a corrective move of the currency’s overall downtrend.
• We exp. soft post-referendum data, speculation for easing and signs of slowing investment inflows, to bring GBP under renewed selling interest.
• China’s Q2 economic growth beats forecast
• China’s GDP for Q2, retail sales & industrial prod. for June, all beat their estimates.
• This may keep global sentiment elevated for a while, which could benefit AUD & NZD.
• Today:
• Eurozone: Final CPI for Jun. is exp. to confirm its prel. estimate.
• US: Retail sales are exp. to slow, while the CPI to accelerate, both for Jun. Given the mixed expectations, the reaction in USD could remain somewhat limited unless we have significant surprises. Also, industrial production for Jun. and prel. U of M consumer sentiment for Jul.
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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