IronFX Daily Commentary by Charalambos Pissouros | 23/09/2016
September 23, 2016 8:39 am
BoE’s Forbes sees no need for further stimulus • GBP got a short-lived boost on Thurs. after MPC member said that the BoE could upgrade its forecasts. • If remarks from other MPC members echo Forbe’s comments, easing exp. could be scaled back and GBP could strengthen.
Today is a PMI day: • France, Germany & Eurozone: Prel. manuf. and services PMIs for Sept. Most indices are exp. to remain relatively unchanged. Unless of a notable surprise EUR reaction should be limited. • Canada: August CPI. Headline inflation exp. to have accelerated to 1.4% yoy form 1.3% yoy, while the core rate is forecast to slid to 2.0% yoy from 2.1% yoy. Retail sales for July are also coming out. Soft data could ease CAD’s recent gains. • US: Prel. Markit manuf. PMI for Sept. Usually not major market mover but given USD sensitivity to incoming data any disappointment could weaken the dollar. • Speakers: Three Fed speakers: Dennis Lockhart, Patrick Harker and Loretta Mester. Mester’s speech likely to attract the most attention as she is 1 of the 3 dissenters.
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BoE’s Forbes sees no need for further stimulus
• GBP got a short-lived boost on Thurs. after MPC member said that the BoE could upgrade its forecasts.
• If remarks from other MPC members echo Forbe’s comments, easing exp. could be scaled back and GBP could strengthen.
Today is a PMI day:
• France, Germany & Eurozone: Prel. manuf. and services PMIs for Sept. Most indices are exp. to remain relatively unchanged. Unless of a notable surprise EUR reaction should be limited.
• Canada: August CPI. Headline inflation exp. to have accelerated to 1.4% yoy form 1.3% yoy, while the core rate is forecast to slid to 2.0% yoy from 2.1% yoy. Retail sales for July are also coming out. Soft data could ease CAD’s recent gains.
• US: Prel. Markit manuf. PMI for Sept. Usually not major market mover but given USD sensitivity to incoming data any disappointment could weaken the dollar.
• Speakers: Three Fed speakers: Dennis Lockhart, Patrick Harker and Loretta Mester. Mester’s speech likely to attract the most attention as she is 1 of the 3 dissenters.
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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