IronFX Daily Commentary by Charalambos Pissouros | 16/11/2016
November 16, 2016 9:43 am
USD bulls “back on the case” • After a brief pause in the dollar rally yesterday, USD surged again following strong US retail sales for Oct. • We expect the dollar to remain supported, but absent any news on Trump’s policies, we could see the USD rally calm down a little. • Investors may wait for Yellen’s speech Thurs. (whether she sees the Fed hiking faster).
WTI rebounds as OPEC and Russia “push” for a deal again • Oil prices surged after OPEC and Russia said they will hold talks in Doha on Thurs. • We doubt that any material deal will be struck (at this meeting or on the 30th of Nov.). • Having said that, oil could rally on speculation for a cut as we approach the end of Nov.
Today: • UK: Employment data for Sep. Unempl. rate is exp. unchanged, avg. earnings to accelerate somewhat. These could support GBP. • US: PPI and industrial production, for Oct. Also, NAHB housing market index for Nov. • Speakers: St. Louis Fed Pres. James Bullard.
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USD bulls “back on the case”
• After a brief pause in the dollar rally yesterday, USD surged again following strong US retail sales for Oct.
• We expect the dollar to remain supported, but absent any news on Trump’s policies, we could see the USD rally calm down a little.
• Investors may wait for Yellen’s speech Thurs. (whether she sees the Fed hiking faster).
WTI rebounds as OPEC and Russia “push” for a deal again
• Oil prices surged after OPEC and Russia said they will hold talks in Doha on Thurs.
• We doubt that any material deal will be struck (at this meeting or on the 30th of Nov.).
• Having said that, oil could rally on speculation for a cut as we approach the end of Nov.
Today:
• UK: Employment data for Sep. Unempl. rate is exp. unchanged, avg. earnings to accelerate somewhat. These could support GBP.
• US: PPI and industrial production, for Oct. Also, NAHB housing market index for Nov.
• Speakers: St. Louis Fed Pres. James Bullard.
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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