IronFX Daily Commentary by Charalambos Pissouros | 19/05/2016
May 19, 2016 9:05 am
Fed minutes: June hike still in play • The minutes of the April FOMC meeting showed that if data continue to improve, it would be appropriate to hike in June. • The Committee felt that its communication in March was interpreted as more dovish than it expected. • USD surged on the news, while stocks declined. Probability for June hike: 34%. • This could keep the dollar supported in the near-term. USD may become more sensitive to incoming data than previously.
Today: • UK: Retail sales for Apr. are exp. to rise, which could support GBP. However, we see some downside risks, perhaps for a smaller-than-expected rise. • Eurozone: ECB minutes of it’s April policy meeting: We don’t expect any major market reaction in EUR. • US: Initial jobless claims for week ended May 13th and Philly Fed business index for May. • Speakers: Fed Vice Chair Stanley Fischer and NY Fed President William Dudley.
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Fed minutes: June hike still in play
• The minutes of the April FOMC meeting showed that if data continue to improve, it would be appropriate to hike in June.
• The Committee felt that its communication in March was interpreted as more dovish than it expected.
• USD surged on the news, while stocks declined. Probability for June hike: 34%.
• This could keep the dollar supported in the near-term. USD may become more sensitive to incoming data than previously.
Today:
• UK: Retail sales for Apr. are exp. to rise, which could support GBP. However, we see some downside risks, perhaps for a smaller-than-expected rise.
• Eurozone: ECB minutes of it’s April policy meeting: We don’t expect any major market reaction in EUR.
• US: Initial jobless claims for week ended May 13th and Philly Fed business index for May.
• Speakers: Fed Vice Chair Stanley Fischer and NY Fed President William Dudley.
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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