IronFX Daily Commentary by Charalambos Pissouros | 17/05/2016
May 17, 2016 8:33 am
Aussie jumps on RBA minutes • AUD/USD surged after the minutes of the latest RBA meeting showed that officials considered remaining on hold (instead they cut rates). • Investors may have interpreted this as a sign that the Bank is unlikely to ease again in the near-term. • Amid a strong jobs market, the recent rate cut and the upcoming election in July, officials could take the sidelines for a while. • This may take off some selling pressure from Aussie, but given the strong easing bias we remain AUD-bearish.
Today: • UK: CPI for Apr. is exp. to remain unchanged, but we see some upside risks to the forecast. Any acceleration could prove GBP-positive at the release. • US: CPI for Apr. is forecast to accelerate, which could support USD a bit. Also, building permits, housing starts and industrial production, all for Apr. • Speakers: San Francisco Fed President John Williams and Dallas Fed President Robert Kaplan.
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Aussie jumps on RBA minutes
• AUD/USD surged after the minutes of the latest RBA meeting showed that officials considered remaining on hold (instead they cut rates).
• Investors may have interpreted this as a sign that the Bank is unlikely to ease again in the near-term.
• Amid a strong jobs market, the recent rate cut and the upcoming election in July, officials could take the sidelines for a while.
• This may take off some selling pressure from Aussie, but given the strong easing bias we remain AUD-bearish.
Today:
• UK: CPI for Apr. is exp. to remain unchanged, but we see some upside risks to the forecast. Any acceleration could prove GBP-positive at the release.
• US: CPI for Apr. is forecast to accelerate, which could support USD a bit. Also, building permits, housing starts and industrial production, all for Apr.
• Speakers: San Francisco Fed President John Williams and Dallas Fed President Robert Kaplan.
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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