IronFX Daily Commentary by Charalambos Pissouros | 18/11/2016
November 18, 2016 9:59 am
Yellen reignites the USD rally • Yellen’s tone was neutral to slightly hawkish yesterday. • She said more gov. spending could have inflationary consequences the Fed would have to take into account (translation = we could hike faster). • But its too early to draw any conclusions before gov. policies become clear. • Her keeping alive the scenario of more hikes fuelled even further USD strength. • Given the unstoppable USD rally, we’d treat any short-term weakness in USD as a corrective move of the currency’s broader uptrend.
Today: • Eurozone: Current account balance for Sep. Usually not a major market mover. • Canada: CPI for Oct. is exp. to accelerate. This could lower the odds for any further easing by the BoC, and thereby support CAD. • Speakers: ECB President Mario Draghi, ECB Gov. Council member Jens Weidmann, Kansas Fed Pres. Esther George and Dallas Fed Pres. Robert Kaplan.
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Yellen reignites the USD rally
• Yellen’s tone was neutral to slightly hawkish yesterday.
• She said more gov. spending could have inflationary consequences the Fed would have to take into account (translation = we could hike faster).
• But its too early to draw any conclusions before gov. policies become clear.
• Her keeping alive the scenario of more hikes fuelled even further USD strength.
• Given the unstoppable USD rally, we’d treat any short-term weakness in USD as a corrective move of the currency’s broader uptrend.
Today:
• Eurozone: Current account balance for Sep. Usually not a major market mover.
• Canada: CPI for Oct. is exp. to accelerate. This could lower the odds for any further easing by the BoC, and thereby support CAD.
• Speakers: ECB President Mario Draghi, ECB Gov. Council member Jens Weidmann, Kansas Fed Pres. Esther George and Dallas Fed Pres. Robert Kaplan.
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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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