IronFX Daily Commentary by Charalambos Pissouros | 21/03/2016
March 21, 2016 9:32 am
Chinese equities rally on looser lending • Shanghai Composite 300 is up 2.4%, after policymakers announced looser standards on margin lending (borrowing money to buy shares). • The move seems to support a bit China’s markets and eases concerns of further slowdown. • However, other Asian markets are subdued, which make us to stay cautious on further advances.
Today: • Eurozone: Current account balance for Jan. and prel. consumer confidence for Mar. • US: Existing home sales for Feb. are exp. to decline a bit. Could be USD-negative. • Speakers: ECB Vice President Vitor Constancio, Richmond Fed President Jeffrey Lacker and Atlanta Fed President Dennis Lockhart.
This week: • Tuesday: Germany’s Ifo and ZEW surveys for Mar. Current conditions are exp. to fall, while expectations indices to rise. Net-net, these could prove EUR-positive. Prel. manufacturing and services PMIs for Mar. from France, Germany and Eurozone. UK CPI for Feb. • Wednesday: No major indicators or events. • Thursday: UK retail sales for Feb. are exp. to fall. In US, durable goods orders for Feb. are forecast to fall as well, which may prove USD-negative. • Friday: Japan’s CPI for Feb. From the US, final GDP and core PCE index for Q4.
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Chinese equities rally on looser lending
• Shanghai Composite 300 is up 2.4%, after policymakers announced looser standards on margin lending (borrowing money to buy shares).
• The move seems to support a bit China’s markets and eases concerns of further slowdown.
• However, other Asian markets are subdued, which make us to stay cautious on further advances.
Today:
• Eurozone: Current account balance for Jan. and prel. consumer confidence for Mar.
• US: Existing home sales for Feb. are exp. to decline a bit. Could be USD-negative.
• Speakers: ECB Vice President Vitor Constancio, Richmond Fed President Jeffrey Lacker and Atlanta Fed President Dennis Lockhart.
This week:
• Tuesday: Germany’s Ifo and ZEW surveys for Mar. Current conditions are exp. to fall, while expectations indices to rise. Net-net, these could prove EUR-positive. Prel. manufacturing and services PMIs for Mar. from France, Germany and Eurozone. UK CPI for Feb.
• Wednesday: No major indicators or events.
• Thursday: UK retail sales for Feb. are exp. to fall. In US, durable goods orders for Feb. are forecast to fall as well, which may prove USD-negative.
• Friday: Japan’s CPI for Feb. From the US, final GDP and core PCE index for Q4.
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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