IronFX Daily Commentary by Charalambos Pissouros | 25/10/2016
October 25, 2016 8:40 am
DXY hit its highest level since early February • Strong US manufacturing data and comments from Fed official added to expectations of a rate hike by year-end. • Fed’s Evans said he sees 3 hikes between now and the end of 2017. USD strong but near important levels against EUR and JPY.
BoC Poloz comments send CAD higher • BoC Gov. Poloz tempered expectations for interest rate cuts accidentally. • He said “our best plan is to wait for the next 18 months or so”, which was taken by markets to mean rates on hold for 18 months. CAD-higher. • A statement later clarified that the comment was about the output gap and not a reference to monetary policy. CAD-recovered most of the earlier move.
Today: • Germany: Ifo survey for Oct. Current conditions index exp. to rise, expectations index is forecast to stay unchanged. This could support EUR a bit. • US: CB consumer confidence index for Oct. Usually not major market mover. • Speakers: ECB President Mario Draghi and Atlanta Fed President Dennis Lockhart.
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DXY hit its highest level since early February
• Strong US manufacturing data and comments from Fed official added to expectations of a rate hike by year-end.
• Fed’s Evans said he sees 3 hikes between now and the end of 2017. USD strong but near important levels against EUR and JPY.
BoC Poloz comments send CAD higher
• BoC Gov. Poloz tempered expectations for interest rate cuts accidentally.
• He said “our best plan is to wait for the next 18 months or so”, which was taken by markets to mean rates on hold for 18 months. CAD-higher.
• A statement later clarified that the comment was about the output gap and not a reference to monetary policy. CAD-recovered most of the earlier move.
Today:
• Germany: Ifo survey for Oct. Current conditions index exp. to rise, expectations index is forecast to stay unchanged. This could support EUR a bit.
• US: CB consumer confidence index for Oct. Usually not major market mover.
• Speakers: ECB President Mario Draghi and Atlanta Fed President Dennis Lockhart.
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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