IronFX Daily Commentary by Charalambos Pissouros | 19/10/2016
October 19, 2016 8:38 am
BoC is likely to take the sidelines and maintain its dovish bias • The Bank of Canada is widely expected to remain on hold today. • Focus will be on the language of the statement accompanying the rate decision. • We expect it to remain dovish amid mixed economic data, thereby keeping the door open for a future rate cut, if necessary. • Something like that could reverse some of CAD’s recent gains.
Final US Presidential debate: Clinton vs Trump (Round 3) • Time: Asian morning Thursday. Watch the Mexican peso as an indication of who won. • Clinton win: risk-on. US stocks, AUD and NZD may gain. Gold, JPY could lose. • Trump win: risk-off. US stocks, AUD and NZD could tumble. Safe havens may gain.
Today: • UK: Jobs data for Aug. Both unemployment rate and avg. weekly earnings are exp. to remain unchanged. We see some upside risks to earnings, perhaps for a slight acceleration. If so, GBP could correct a bit higher. • US: Building permits for Sep. • Speakers: BoC Gov. Poloz will hold a press conference following the rate decision.
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BoC is likely to take the sidelines and maintain its dovish bias
• The Bank of Canada is widely expected to remain on hold today.
• Focus will be on the language of the statement accompanying the rate decision.
• We expect it to remain dovish amid mixed economic data, thereby keeping the door open for a future rate cut, if necessary.
• Something like that could reverse some of CAD’s recent gains.
Final US Presidential debate: Clinton vs Trump (Round 3)
• Time: Asian morning Thursday. Watch the Mexican peso as an indication of who won.
• Clinton win: risk-on. US stocks, AUD and NZD may gain. Gold, JPY could lose.
• Trump win: risk-off. US stocks, AUD and NZD could tumble. Safe havens may gain.
Today:
• UK: Jobs data for Aug. Both unemployment rate and avg. weekly earnings are exp. to remain unchanged. We see some upside risks to earnings, perhaps for a slight acceleration. If so, GBP could correct a bit higher.
• US: Building permits for Sep.
• Speakers: BoC Gov. Poloz will hold a press conference following the rate decision.
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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