IronFX Daily Commentary by Charalambos Pissouros | 15/09/2016
September 15, 2016 9:09 am
• BoE to hold its fire, focus to fall on the minutes • The BoE is widely exp. to stand pat today via a unanimous 9-0 vote. • Focus will be on the votes and if in the minutes, the Bank reiterates that further easing is likely (in light of the solid August PMIs). • Any hints the economy is stronger than expected in August may support GBP. • However, if any members dissent and vote for a cut, the pound could plunge. • SNB to stand pat as well and reiterate CHF is overvalued • SNB is also likely to stand pat. Reaction in CHF may remain rather limited. • Given the SNB remains active in the FX market, we’d treat any future strengthening of CHF as providing renewed selling opportunities.
• Today: • UK: Retail sales for Aug. are exp. to have fallen, which could hurt GBP a bit. • Eurozone: Trade balance for Jul. and final CPI for Aug. • US: Retail sales for Aug. are exp. to fall marginally. Core rate is exp. to rise slightly. Net-net, these could lower the odds for a Sep. Fed hike and thereby hurt USD.
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• BoE to hold its fire, focus to fall on the minutes
• The BoE is widely exp. to stand pat today via a unanimous 9-0 vote.
• Focus will be on the votes and if in the minutes, the Bank reiterates that further easing is likely (in light of the solid August PMIs).
• Any hints the economy is stronger than expected in August may support GBP.
• However, if any members dissent and vote for a cut, the pound could plunge.
• SNB to stand pat as well and reiterate CHF is overvalued
• SNB is also likely to stand pat. Reaction in CHF may remain rather limited.
• Given the SNB remains active in the FX market, we’d treat any future strengthening of CHF as providing renewed selling opportunities.
• Today:
• UK: Retail sales for Aug. are exp. to have fallen, which could hurt GBP a bit.
• Eurozone: Trade balance for Jul. and final CPI for Aug.
• US: Retail sales for Aug. are exp. to fall marginally. Core rate is exp. to rise slightly. Net-net, these could lower the odds for a Sep. Fed hike and thereby hurt USD.
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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