IronFX Daily Commentary by Charalambos Pissouros | 17/03/2016
March 17, 2016 9:42 am
Dovish Fed sends dollar tumbling • Fed revised down the “dot plot”, signaling only 2 rates hikes in 2016, down from 4. • Overall tone was dovish. USD weakened against its counterparts.
BoE to stand pat • BoE is expected to stand pat. Focus on the minutes for any “Brexit” concerns.
Norges Bank time to ease? • Norges Bank is broadly expected to cut rates today. • However, we see a possibility for the Bank to remain on hold. If so, NOK-positive.
SNB to remain on hold, for now • The SNB is likely to stand pat, as the ECB package failed to weaken EUR/CHF. • But if CHF gradually strengthens, SNB could ease even outside policy meetings.
Today: • Sweden: Unemployment rate for Feb. is exp. to decline. • Eurozone: Final CPI for Feb. and trade balance for Jan. • US: Current account balance for Q4, initial jobless claims for week ended Mar. 11th, Philly Fed index for Mar. and JOLTS job openings for Jan.
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Dovish Fed sends dollar tumbling
• Fed revised down the “dot plot”, signaling only 2 rates hikes in 2016, down from 4.
• Overall tone was dovish. USD weakened against its counterparts.
BoE to stand pat
• BoE is expected to stand pat. Focus on the minutes for any “Brexit” concerns.
Norges Bank time to ease?
• Norges Bank is broadly expected to cut rates today.
• However, we see a possibility for the Bank to remain on hold. If so, NOK-positive.
SNB to remain on hold, for now
• The SNB is likely to stand pat, as the ECB package failed to weaken EUR/CHF.
• But if CHF gradually strengthens, SNB could ease even outside policy meetings.
Today:
• Sweden: Unemployment rate for Feb. is exp. to decline.
• Eurozone: Final CPI for Feb. and trade balance for Jan.
• US: Current account balance for Q4, initial jobless claims for week ended Mar. 11th, Philly Fed index for Mar. and JOLTS job openings 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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