IronFX Daily Commentary by Charalambos Pissouros | 16/03/2016
March 16, 2016 9:13 am
Fed to tactically “delay” hikes • FOMC is expected to remain on hold. Focus will shift on the updated “dot plot”, new economic forecasts and press conference. • We expect the “dot plot” to be revised down, but not significantly. • This will communicate that the normalization path is still on track, just delayed. • Initial reaction in USD on the size of the revisions and next on the tone of Yellen’s press conference.
Kuroda: BoJ could cut rates until -0.5% • Gov. Kuroda said the BoJ could cut rates until -0.5% if needed. • Yen weakened on his comments, as fears the BoJ is running out of tools eased.
Today: • UK: Employment report for Jan. Unemployment rate is exp. Unchanged, while average weekly earnings are exp. to accelerate. This could prove GBP-positive. • US: CPI for Feb. is exp. to slow, but any reaction in USD may be short-lived ahead of the Fed decision. Also, building permits, housing starts and industrial production, all for Feb. • Canada: Manufacturing sales for Jan. Join us for more technical and fundamental analysis: http://www.ironfx.com
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Fed to tactically “delay” hikes
• FOMC is expected to remain on hold. Focus will shift on the updated “dot plot”, new economic forecasts and press conference.
• We expect the “dot plot” to be revised down, but not significantly.
• This will communicate that the normalization path is still on track, just delayed.
• Initial reaction in USD on the size of the revisions and next on the tone of Yellen’s press conference.
Kuroda: BoJ could cut rates until -0.5%
• Gov. Kuroda said the BoJ could cut rates until -0.5% if needed.
• Yen weakened on his comments, as fears the BoJ is running out of tools eased.
Today:
• UK: Employment report for Jan. Unemployment rate is exp. Unchanged, while average weekly earnings are exp. to accelerate. This could prove GBP-positive.
• US: CPI for Feb. is exp. to slow, but any reaction in USD may be short-lived ahead of the Fed decision. Also, building permits, housing starts and industrial production, all for Feb.
• Canada: Manufacturing sales for Jan.
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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