IronFX Daily Commentary by Charalambos Pissouros | 16/09/2016
September 16, 2016 8:39 am
• BoE: Slightly more upbeat but maintains its easing bias • BoE remained on hold by a 9-0 vote and was slightly more upbeat on the economy. • However, it reiterated that if at the Nov. meeting the data are consistent with the Aug. forecasts, then another rate cut is likely. • We thus expect GBP to be even more sensitive to fresh UK data, as they are likely to determine whether the Bank eases again. • SNB reiterates CHF is still significantly overvalued • SNB stood pat as well. Reaffirmed it will remain active in FX to curb CHF strength. • Any sharp future strengthening of CHF may provide renewed selling opportunities. • EU leaders meet to discuss the future as a bloc of 27 • EU leaders (ex. UK) summit today. May be a non-event for FX, but any new comments/proposals could attract market attention. • Today: • US: CPI for Aug. Headline rate is exp. to rise, core to remain unchanged. This could support USD somewhat.
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• BoE: Slightly more upbeat but maintains its easing bias
• BoE remained on hold by a 9-0 vote and was slightly more upbeat on the economy.
• However, it reiterated that if at the Nov. meeting the data are consistent with the Aug. forecasts, then another rate cut is likely.
• We thus expect GBP to be even more sensitive to fresh UK data, as they are likely to determine whether the Bank eases again.
• SNB reiterates CHF is still significantly overvalued
• SNB stood pat as well. Reaffirmed it will remain active in FX to curb CHF strength.
• Any sharp future strengthening of CHF may provide renewed selling opportunities.
• EU leaders meet to discuss the future as a bloc of 27
• EU leaders (ex. UK) summit today. May be a non-event for FX, but any new comments/proposals could attract market attention.
• Today:
• US: CPI for Aug. Headline rate is exp. to rise, core to remain unchanged. This could support USD somewhat.
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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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