IronFX Daily Commentary by Charalambos Pissouros | 18/10/2016
October 18, 2016 8:36 am
New Zealand’s CPI beats forecast, but will it hold the RBNZ back? • New Zealand’s CPI rate for Q3 declined, but was slightly above its forecast. • This caused NZD/USD to spike higher. • Despite this, we still believe the RBNZ is on track for a Nov. rate cut, as the positive surprise wasn’t that significant. • The final piece of data to determine if the RBNZ cuts will be 2-year inflation expectations, out on 2nd of Nov.
AUD lifted by RBA Governor Lowe’s remarks & latest meeting minutes • AUD/USD moved higher after the RBA Oct. minutes and remarks by Gov. Lowe. • Lowe was a bit hawkish: “current level of interest rates is suitable for economy”. • But the door was kept open for further easing, conditional on Q3 CPI (out next week).
Today: • UK: CPI data for Sep. Both headline and core rates exp. to rise. This could reverse some of GBP’s recent losses. • US: Sep. CPI data as well. Headline rate exp. to surge, core rate to remain unchanged. This could support USD.
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New Zealand’s CPI beats forecast, but will it hold the RBNZ back?
• New Zealand’s CPI rate for Q3 declined, but was slightly above its forecast.
• This caused NZD/USD to spike higher.
• Despite this, we still believe the RBNZ is on track for a Nov. rate cut, as the positive surprise wasn’t that significant.
• The final piece of data to determine if the RBNZ cuts will be 2-year inflation expectations, out on 2nd of Nov.
AUD lifted by RBA Governor Lowe’s remarks & latest meeting minutes
• AUD/USD moved higher after the RBA Oct. minutes and remarks by Gov. Lowe.
• Lowe was a bit hawkish: “current level of interest rates is suitable for economy”.
• But the door was kept open for further easing, conditional on Q3 CPI (out next week).
Today:
• UK: CPI data for Sep. Both headline and core rates exp. to rise. This could reverse some of GBP’s recent losses.
• US: Sep. CPI data as well. Headline rate exp. to surge, core rate to remain unchanged. This could support USD.
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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