IronFX Daily Commentary by Charalambos Pissouros | 22/11/2016
November 22, 2016 9:15 am
ECB’s Draghi says its ultra-loose policy needs to continue • ECB Pres. Draghi said that the current level of monetary support is needed to boost inflation. • This increase the likelihood for the Bank to extend its QE program at its next month meeting.
Trump said to withdraw the US from TPP trade deal • Trump said to withdraw the US from TPP trade deal, and replace it with bilateral deals. • Even though this had no immediate market reaction, it eased USD gains a bit, as it teared any hopes for a softer protectionist stance on international trade.
Today: • Eurozone: Prel. Cons. confidence index for Nov. Usually not a major market mover. • US: Existing home sales for Oct. and Richmond Fed manufacturing activity index for Nov. We don’t expect these data to materially affect USD. • Canada: Retail sales for Sept. Headline sales exp. to rebound, while core rate to rise. Positive data may extend somewhat Loonie’s recent recovery. • Speakers: RBA Assistant Gov. Christopher Kent.
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ECB’s Draghi says its ultra-loose policy needs to continue
• ECB Pres. Draghi said that the current level of monetary support is needed to boost inflation.
• This increase the likelihood for the Bank to extend its QE program at its next month meeting.
Trump said to withdraw the US from TPP trade deal
• Trump said to withdraw the US from TPP trade deal, and replace it with bilateral deals.
• Even though this had no immediate market reaction, it eased USD gains a bit, as it teared any hopes for a softer protectionist stance on international trade.
Today:
• Eurozone: Prel. Cons. confidence index for Nov. Usually not a major market mover.
• US: Existing home sales for Oct. and Richmond Fed manufacturing activity index for Nov. We don’t expect these data to materially affect USD.
• Canada: Retail sales for Sept. Headline sales exp. to rebound, while core rate to rise. Positive data may extend somewhat Loonie’s recent recovery.
• Speakers: RBA Assistant Gov. Christopher Kent.
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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