IronFX Daily Commentary by Charalambos Pissouros | 21/04/2016
April 21, 2016 8:39 am
ECB to bring further easing into light • ECB is unlikely to reveal any fresh measures and the focus will be solely on the press conference and Q&A session. • Draghi is likely to reassure investors that the Bank hasn’t used up all its tools, indicating that fresh rate cuts and other tools remain on the table. • “Helicopter money” can be mentioned. Such comments could weaken EUR.
Riksbank is likely to stand pat • The Riksbank is expected to stand pat amid a rising inflation rate. • The reaction in SEK may be determined by the tone of the decision statement. • We expect officials to maintain an easing bias and threaten with FX intervention if SEK continues to strengthen. • This could ease SEK recent gains.
Today: • UK: Retail sales for Mar. are exp. to fall. This could prove GBP-negative. • Eurozone: Prel. consumer confidence for Apr. Usually not a market mover. • US: Philadelphia Fed index for Apr. Initial jobless claims (week ended 15th Apr.) • Speakers: Besides ECB Draghi, BoE Governor Mark Carney speaks.
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ECB to bring further easing into light
• ECB is unlikely to reveal any fresh measures and the focus will be solely on the press conference and Q&A session.
• Draghi is likely to reassure investors that the Bank hasn’t used up all its tools, indicating that fresh rate cuts and other tools remain on the table.
• “Helicopter money” can be mentioned. Such comments could weaken EUR.
Riksbank is likely to stand pat
• The Riksbank is expected to stand pat amid a rising inflation rate.
• The reaction in SEK may be determined by the tone of the decision statement.
• We expect officials to maintain an easing bias and threaten with FX intervention if SEK continues to strengthen.
• This could ease SEK recent gains.
Today:
• UK: Retail sales for Mar. are exp. to fall. This could prove GBP-negative.
• Eurozone: Prel. consumer confidence for Apr. Usually not a market mover.
• US: Philadelphia Fed index for Apr. Initial jobless claims (week ended 15th Apr.)
• Speakers: Besides ECB Draghi, BoE Governor Mark Carney speaks.
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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