IronFX Daily Commentary by Charalambos Pissouros | 18/05/2016
May 18, 2016 8:34 am
Japan dodges technical recession • Japan’s economy grew more than expected in Q1, avoiding a technical recession (two quarters of negative growth). • However, the report also showed that inflation slowed in the quarter. • JPY strengthened at the release, but gave back its gains in the following hours. • Low inflation keeps speculation elevated that the BoJ may ease again in June. • Focus remains on the G7 meeting end of May for JPY near-term direction.
Today: • UK: Employment report for Mar. Unemployment rate is exp. to remain unchanged, avg. weekly earnings to slow a bit, which could prove GBP-negative. • Eurozone: Final CPI for Apr. is exp. to confirm the preliminary estimate. • US: FOMC April policy meeting minutes. In the statement we had no comments on the possibility of a June hike. It will be interesting to see if such a mention will be in the minutes. If no new information is received, the reaction in USD may stay limited. • Speakers: Norges Bank Governor Oystein Olsen.
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Japan dodges technical recession
• Japan’s economy grew more than expected in Q1, avoiding a technical recession (two quarters of negative growth).
• However, the report also showed that inflation slowed in the quarter.
• JPY strengthened at the release, but gave back its gains in the following hours.
• Low inflation keeps speculation elevated that the BoJ may ease again in June.
• Focus remains on the G7 meeting end of May for JPY near-term direction.
Today:
• UK: Employment report for Mar. Unemployment rate is exp. to remain unchanged, avg. weekly earnings to slow a bit, which could prove GBP-negative.
• Eurozone: Final CPI for Apr. is exp. to confirm the preliminary estimate.
• US: FOMC April policy meeting minutes. In the statement we had no comments on the possibility of a June hike. It will be interesting to see if such a mention will be in the minutes. If no new information is received, the reaction in USD may stay limited.
• Speakers: Norges Bank Governor Oystein Olsen.
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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