IronFX Daily Commentary by Charalambos Pissouros | 22/09/2016
September 22, 2016 8:52 am
Fed stands pat, signals one hike still likely • The Fed left interest rates unchanged but signalled that near-term risks appear roughly balanced and that the case for a hike has strengthened. • Three officials dissented in favour of a hike, increasing the case for Dec. action. • The Committee decided to wait for further evidence of continued progress towards its objectives of inflation and employment. • USD remains data-driven with risks tilted to the downside in case of disappointing data.
RBNZ on hold, but further easing will be required • RBNZ left rates unchanged, but signaled that it intends to cut rates again to boost inflation. • Even though the economy is strong, inflation has being below the bottom of 1-3% target. • November is the likely period for a move, when we get the updated 2-yr inflation expectations. • NZD to come under selling interest as exp. build-up for a near-term rate cut.
Today: • Norges Bank policy meeting: Exp. to remain on hold, given that downside risks for Norway’s economy have diminished a bit. Inflation is above target and jobs market is strong. • US: Initial jobless claims for the week ended on Sep. 16th. Existing home sales for Aug. • Speakers: ECB President Mario Draghi and BoE MPC member Kristin Forbes.
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Fed stands pat, signals one hike still likely
• The Fed left interest rates unchanged but signalled that near-term risks appear roughly balanced and that the case for a hike has strengthened.
• Three officials dissented in favour of a hike, increasing the case for Dec. action.
• The Committee decided to wait for further evidence of continued progress towards its objectives of inflation and employment.
• USD remains data-driven with risks tilted to the downside in case of disappointing data.
RBNZ on hold, but further easing will be required
• RBNZ left rates unchanged, but signaled that it intends to cut rates again to boost inflation.
• Even though the economy is strong, inflation has being below the bottom of 1-3% target.
• November is the likely period for a move, when we get the updated 2-yr inflation expectations.
• NZD to come under selling interest as exp. build-up for a near-term rate cut.
Today:
• Norges Bank policy meeting: Exp. to remain on hold, given that downside risks for Norway’s economy have diminished a bit. Inflation is above target and jobs market is strong.
• US: Initial jobless claims for the week ended on Sep. 16th. Existing home sales for Aug.
• Speakers: ECB President Mario Draghi and BoE MPC member Kristin Forbes.
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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