IronFX Daily Commentary by Charalambos Pissouros | 22/06/2016
June 22, 2016 7:54 am
Yellen: Cautious approach is “still appropriate” • Fed Chair Yellen maintained a cautious yet optimistic tone in her testimony. • “Brexit” could create a risk-off environment, which may strengthen USD. • US economy is doing well, but need to ensure that the recent slowdown in jobs growth is only temporary. • This enhances our view that July may be too soon for the Fed to move. • We maintain our call for September, but if June’s employment report (Jul.8) is soft as well, chances for a later hike could rise notably.
Today: • Sweden: Consumer & manufacturing confidence indices for Jun. Unemployment rate for May is exp. to decline. Overall, these could support SEK somewhat. • US: Fed Chair Yellen testifies before Congress. Given that the speech will be the same as yesterday, the focus will be solely on the Q&A session. Also, existing home sales for May. • Canada: Retail sales for Apr. are exp. to rise, which could support CAD a bit.
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Yellen: Cautious approach is “still appropriate”
• Fed Chair Yellen maintained a cautious yet optimistic tone in her testimony.
• “Brexit” could create a risk-off environment, which may strengthen USD.
• US economy is doing well, but need to ensure that the recent slowdown in jobs growth is only temporary.
• This enhances our view that July may be too soon for the Fed to move.
• We maintain our call for September, but if June’s employment report (Jul.8) is soft as well, chances for a later hike could rise notably.
Today:
• Sweden: Consumer & manufacturing confidence indices for Jun. Unemployment rate for May is exp. to decline. Overall, these could support SEK somewhat.
• US: Fed Chair Yellen testifies before Congress. Given that the speech will be the same as yesterday, the focus will be solely on the Q&A session. Also, existing home sales for May.
• Canada: Retail sales for Apr. are exp. to rise, which could support CAD a bit.
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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