IronFX Daily Commentary by Charalambos Pissouros | 22/04/2016
April 22, 2016 8:42 am
ECB Draghi: Policies are working, give them time • The ECB remained on hold and Draghi signalled that Bank policies must be given time to work. • EUR/USD rose on comments that there is no need for immediate easing, but later gave back all the gains. • ECB likely to remain side-lined in coming months as not all measures have been implemented yet. • EUR/USD could head lower as Draghi reopened the door to fresh rate cuts.
Today: • France, Germany & Eurozone: Prel. manufacturing and services PMIs for Apr. All indices are exp. to rise. • Canada: CPI for Mar. is exp. to slow down. Retail sales for Feb. are exp. to fall. Both of these are released at the same time and could hurt CAD. • US: Prel. Markit manufacturing PMI for Apr. Usually not a major market mover.
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ECB Draghi: Policies are working, give them time
• The ECB remained on hold and Draghi signalled that Bank policies must be given time to work.
• EUR/USD rose on comments that there is no need for immediate easing, but later gave back all the gains.
• ECB likely to remain side-lined in coming months as not all measures have been implemented yet.
• EUR/USD could head lower as Draghi reopened the door to fresh rate cuts.
Today:
• France, Germany & Eurozone: Prel. manufacturing and services PMIs for Apr. All indices are exp. to rise.
• Canada: CPI for Mar. is exp. to slow down. Retail sales for Feb. are exp. to fall. Both of these are released at the same time and could hurt CAD.
• US: Prel. Markit manufacturing PMI for Apr. Usually not a major market mover.
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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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