IronFX Daily Commentary by Charalambos Pissouros | 17/05/2017
May 17, 2017 9:20 am
Greenback continues to slip amid political turmoil • USD continued to decline yesterday, amid renewed political turmoil in Washington. • Media reports suggest Trump asked former FBI Director Comey to end an investigation regarding ties between Trump’s prior security advisor and Russia. • This may have raised a lot of questions (and thus uncertainty) for investors: -Can Trump be impeached over this? -Does this mean that his tax reform agenda is less likely to be passed by Congress? • Even though we may see some USD correction following the very sharp tumble, we think it is likely to stay on the back foot overall in the next days. • Especially since there are no major US indicators on the calendar, and very few Fed speakers.
Today’s highlights: • UK: Employment data for March (08:30 GMT). Unemployment rate expected unchanged, average weekly earnings (including bonuses) to have accelerated somewhat. May prove GBP-positive. • Eurozone: Final CPI for April (09:00 GMT) but this is usually not a major market mover. • Canada: Manufacturing sales for March (12:30 GMT) are expected to have risen, which could support CAD somewhat. • Speakers: BoE MPC member Andy Haldane (18:00 GMT).
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Greenback continues to slip amid political turmoil
• USD continued to decline yesterday, amid renewed political turmoil in Washington.
• Media reports suggest Trump asked former FBI Director Comey to end an investigation regarding ties between Trump’s prior security advisor and Russia.
• This may have raised a lot of questions (and thus uncertainty) for investors:
-Can Trump be impeached over this?
-Does this mean that his tax reform agenda is less likely to be passed by Congress?
• Even though we may see some USD correction following the very sharp tumble, we think it is likely to stay on the back foot overall in the next days.
• Especially since there are no major US indicators on the calendar, and very few Fed speakers.
Today’s highlights:
• UK: Employment data for March (08:30 GMT). Unemployment rate expected unchanged, average weekly earnings (including bonuses) to have accelerated somewhat. May prove GBP-positive.
• Eurozone: Final CPI for April (09:00 GMT) but this is usually not a major market mover.
• Canada: Manufacturing sales for March (12:30 GMT) are expected to have risen, which could support CAD somewhat.
• Speakers: BoE MPC member Andy Haldane (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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