IronFX Daily Commentary by Charalambos Pissouros | 23/11/2016
November 23, 2016 9:41 am
Main points for Today UK’s Autumn Statement: Hammond’s first • This is the first detailed economic policy announcement for the new government. • The New Chancellor may decide to boost growth and raise living standards by spending more on housing and targeted infrastructure projects. • More fiscal stimulus by the government may lessen the need for extra monetary easing, something that could prove GBP-positive.
FOMC latest meeting minutes • At that meeting, officials remained on hold but sent strong signals for a Dec. action. • Since then, economic indicators have painted an upbeat picture of the economy. • However, pre-election era minutes are likely to be viewed as outdated.
Today: • France, Germany, Eurozone: Prel. manuf. and services PMI data for Nov. All PMIs are exp. to remain above the 50 critical barrier. This could support a bit EUR. • US: Durable goods orders and new home sales for Oct. Initial jobless claims, the final UoM cons. sentiment index and the prel. Markit manuf. PMI, both for Nov. Encouraging data could boost USD further.
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Main points for Today
UK’s Autumn Statement: Hammond’s first
• This is the first detailed economic policy announcement for the new government.
• The New Chancellor may decide to boost growth and raise living standards by spending more on housing and targeted infrastructure projects.
• More fiscal stimulus by the government may lessen the need for extra monetary easing, something that could prove GBP-positive.
FOMC latest meeting minutes
• At that meeting, officials remained on hold but sent strong signals for a Dec. action.
• Since then, economic indicators have painted an upbeat picture of the economy.
• However, pre-election era minutes are likely to be viewed as outdated.
Today:
• France, Germany, Eurozone: Prel. manuf. and services PMI data for Nov. All PMIs are exp. to remain above the 50 critical barrier. This could support a bit EUR.
• US: Durable goods orders and new home sales for Oct. Initial jobless claims, the final UoM cons. sentiment index and the prel. Markit manuf. PMI, both for Nov. Encouraging data could boost USD further.
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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