IronFX Daily Commentary by Charalambos Pissouros | 16/05/2017
May 16, 2017 9:05 am
RBA minutes pack few surprises • Overnight, the minutes of the latest RBA meeting were very similar to the statement. • Nothing to suggest there may be any policy action anytime soon. • This is consistent with our view that the Bank is likely to remain on hold in the foreseeable future. • Most noteworthy comment was that the labor and housing markets require “careful monitoring”. • Next market mover for AUD: Employment data for April, due out Asian morning Thursday. • Besides incoming economic data, AUD’s forthcoming direction may also be decided by risk sentiment and iron ore prices.
Today’s highlights: • UK: CPI data for April (08:30 GMT). Both the headline and core rates are expected to have risen, which could support GBP. • Germany: ZEW survey for May (09:00 GMT). Both the current conditions and the expectations indices are expected to have risen, which could prove positive for EUR and the DAX. • US: Building permits, housing starts (12:30 GMT) and industrial production (13:15 GMT), all for April. • Speakers: ECB Executive Board member Benoit Coeure (18:00 GMT).
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RBA minutes pack few surprises
• Overnight, the minutes of the latest RBA meeting were very similar to the statement.
• Nothing to suggest there may be any policy action anytime soon.
• This is consistent with our view that the Bank is likely to remain on hold in the foreseeable future.
• Most noteworthy comment was that the labor and housing markets require “careful monitoring”.
• Next market mover for AUD: Employment data for April, due out Asian morning Thursday.
• Besides incoming economic data, AUD’s forthcoming direction may also be decided by risk sentiment and iron ore prices.
Today’s highlights:
• UK: CPI data for April (08:30 GMT). Both the headline and core rates are expected to have risen, which could support GBP.
• Germany: ZEW survey for May (09:00 GMT). Both the current conditions and the expectations indices are expected to have risen, which could prove positive for EUR and the DAX.
• US: Building permits, housing starts (12:30 GMT) and industrial production (13:15 GMT), all for April.
• Speakers: ECB Executive Board member Benoit Coeure (18:00 GMT).
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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