IronFX Daily Commentary by Charalambos Pissouros | 23/08/2016
August 23, 2016 8:38 am
RBNZ’s Wheeler: No need for rapid easing • The RBNZ Governor said that rapid rate cuts could cause unsustainable growth and inflate an already overheating housing market. • Expectations for another cut as early as at the September meeting were very high. • Wheeler’s comments imply the Bank is unlikely to move again so early. • This caused NZD to spike higher on the news. • NZD could remain supported in the foreseeable future, mainly due to its relatively high bond yields.
Today is a PMI day: • France, Germany & Eurozone: Prel. manufacturing and services PMIs for Aug. Most indices are exp. to remain relatively unchanged, which could keep the reaction in EUR muted, unless we have notable surprises. • Eurozone: Prel. consumer confidence for Aug. Usually not a major market mover. • US: Prel. Markit manufacturing PMI and Richmond Fed manufacturing index, both for Aug. are forecast to tick down. Also, new home sales for Jul. are exp. to decline. Combined, these could be cause for some USD weakness, at least temporarily.
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
RBNZ’s Wheeler: No need for rapid easing
• The RBNZ Governor said that rapid rate cuts could cause unsustainable growth and inflate an already overheating housing market.
• Expectations for another cut as early as at the September meeting were very high.
• Wheeler’s comments imply the Bank is unlikely to move again so early.
• This caused NZD to spike higher on the news.
• NZD could remain supported in the foreseeable future, mainly due to its relatively high bond yields.
Today is a PMI day:
• France, Germany & Eurozone: Prel. manufacturing and services PMIs for Aug. Most indices are exp. to remain relatively unchanged, which could keep the reaction in EUR muted, unless we have notable surprises.
• Eurozone: Prel. consumer confidence for Aug. Usually not a major market mover.
• US: Prel. Markit manufacturing PMI and Richmond Fed manufacturing index, both for Aug. are forecast to tick down. Also, new home sales for Jul. are exp. to decline. Combined, these could be cause for some USD weakness, at least temporarily.
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
Related Posts: