IronFX Daily Commentary by Charalambos Pissouros | 15/11/2016
November 15, 2016 9:38 am
Is it time for the USD rally to take a breather? • The massacre in the bond market continued yesterday. • Investors kept dumping US bonds, concerned the Fed may hike rates faster than prev. • This fuelled further strength in the dollar. USD index now at highest lvl since Dec. 2015. • But how long until investors take some profit? We saw some small FX countermoves late yesterday and today during the Asian session. • We could see some more profit-taking today. Maybe modest countermoves before the next wave of USD strength.
Today: • Germany: ZEW survey for Nov. and prel. GDP data for Q3. • UK: CPI rate for Oct. is exp. to rise a bit. It may rise more-than-exp. If so, GBP positive. • Sweden: CPI for Oct. is forecast to accelerate, which may prove SEK-positive. • Eurozone: Prel. GDP for Q3 is exp. to have risen at the same pace as prev. • US: Retail sales for Oct. are forecast to slow somewhat, but still remain at healthy levels. This could keep the Fed on track for Dec. hike, and thus support USD. • Speakers: Fed Vice Chair Stanley Fischer.
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Is it time for the USD rally to take a breather?
• The massacre in the bond market continued yesterday.
• Investors kept dumping US bonds, concerned the Fed may hike rates faster than prev.
• This fuelled further strength in the dollar. USD index now at highest lvl since Dec. 2015.
• But how long until investors take some profit? We saw some small FX countermoves late yesterday and today during the Asian session.
• We could see some more profit-taking today. Maybe modest countermoves before the next wave of USD strength.
Today:
• Germany: ZEW survey for Nov. and prel. GDP data for Q3.
• UK: CPI rate for Oct. is exp. to rise a bit. It may rise more-than-exp. If so, GBP positive.
• Sweden: CPI for Oct. is forecast to accelerate, which may prove SEK-positive.
• Eurozone: Prel. GDP for Q3 is exp. to have risen at the same pace as prev.
• US: Retail sales for Oct. are forecast to slow somewhat, but still remain at healthy levels. This could keep the Fed on track for Dec. hike, and thus support USD.
• Speakers: Fed Vice Chair Stanley Fischer.
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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