IronFX Daily Commentary by Charalambos Pissouros | 17/11/2016
November 17, 2016 10:05 am
Yellen to be questioned on “Trumpenomics” • Fed Chair Yellen will testify before Congress, followed by a Q & A session. • Investors may look for clues on whether “Trumpenomics” (higher spending, higher inflation) will lead to a faster pace of rate hikes. • We don’t expect her to clearly confirm, nor deny this. • She may indicate that in theory faster hikes are a possibility, but more info. is needed before the FOMC re-evaluates its rate path. • Such comments may keep alive the scenario of faster hikes and thus, support USD.
Today: • UK: Retail sales for Oct. are forecast to rise. GBP-positive. • Eurozone: Minutes from Oct. policy meeting, but usually not a major market mover. • US: CPI for Oct. is expected to accelerate, which may add further fuel to the USD rally. Also, housing starts for Oct. and Philly Fed index for Nov. • Speakers: Besides Fed Chair Yellen, Fed Board Governor Lael Brainard.
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Yellen to be questioned on “Trumpenomics”
• Fed Chair Yellen will testify before Congress, followed by a Q & A session.
• Investors may look for clues on whether “Trumpenomics” (higher spending, higher inflation) will lead to a faster pace of rate hikes.
• We don’t expect her to clearly confirm, nor deny this.
• She may indicate that in theory faster hikes are a possibility, but more info. is needed before the FOMC re-evaluates its rate path.
• Such comments may keep alive the scenario of faster hikes and thus, support USD.
Today:
• UK: Retail sales for Oct. are forecast to rise. GBP-positive.
• Eurozone: Minutes from Oct. policy meeting, but usually not a major market mover.
• US: CPI for Oct. is expected to accelerate, which may add further fuel to the USD rally. Also, housing starts for Oct. and Philly Fed index for Nov.
• Speakers: Besides Fed Chair Yellen, Fed Board Governor Lael Brainard.
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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