IronFX Daily Commentary by Charalambos Pissouros | 22/03/2016
March 22, 2016 8:58 am
Fed officials strike a hawkish tone • Fed Presidents Lockhart and Williams said that rate hikes may be justified at the upcoming meetings. • They are non-voting members, so their opinions had little impact in the markets. • But if more speakers strike a similar tone, expectations for a near-term hike could build up, which may support USD.
Canada’s much anticipated budget • Government’s first budget is expected to include massive fiscal stimulus. • Normally, this should be CAD-positive at the announcement. • However, expectations are high already, so any under-delivery could push Loonie off the cliff.
Today: • France, Germany & Eurozone: Prel. manuf. and services PMIs for Mar. • Germany: Ifo and ZEW sentiment surveys. Could prove EUR-positive. • UK: CPI for Feb. is exp. to accelerate, which may support GBP a bit. • US: Prel. Markit manuf. PMI and Rich. Fed manuf. index, both for Mar. • Speakers: Chicago Fed President Charles Evans.
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Fed officials strike a hawkish tone
• Fed Presidents Lockhart and Williams said that rate hikes may be justified at the upcoming meetings.
• They are non-voting members, so their opinions had little impact in the markets.
• But if more speakers strike a similar tone, expectations for a near-term hike could build up, which may support USD.
Canada’s much anticipated budget
• Government’s first budget is expected to include massive fiscal stimulus.
• Normally, this should be CAD-positive at the announcement.
• However, expectations are high already, so any under-delivery could push Loonie off the cliff.
Today:
• France, Germany & Eurozone: Prel. manuf. and services PMIs for Mar.
• Germany: Ifo and ZEW sentiment surveys. Could prove EUR-positive.
• UK: CPI for Feb. is exp. to accelerate, which may support GBP a bit.
• US: Prel. Markit manuf. PMI and Rich. Fed manuf. index, both for Mar.
• Speakers: Chicago Fed President Charles Evans.
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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