IronFX Daily Commentary by Charalambos Pissouros | 26/02/2016
February 26, 2016 12:03 pm
G20 meet as global outlook darkens • G20 central bank governors and finance ministers will discuss global growth risks. • May highlight the need for CBs to avoid competitive currency devaluation. • The market is eager to see actions that may boost spending and support growth. • A positive tone is needed to support pro-risk assets like AUD and NZD and decrease need for safe-havens JPY, EUR, CHF and Gold.
Overnight: Japan’s inflation hits 0% • Japan’s annual CPI tumbled to 0%. This increases likelihood for further easing by BoJ.
Today: • France: Final GDP for Q4. • Norway: Unemployment rate for Feb. is exp. to decrease. • Sweden: Retail sales for Jan. are exp. to rise. • Eurozone: Final consumer confidence for Feb. • Germany: Prel. CPI for Feb. is exp. to slow down. This could prove EUR-negative. • US: 2nd estimate for Q4 GDP is exp. to be revised down, while core PCE deflator to remain unchanged. Also, personal income & spending for Jan. are both exp. to accelerate. Net-net, focus may be on income and spending, which could support USD. • Speakers: Fed Gov. Jerome Powell and Lael Brainard, San Fran. Fed President John Williams and ECB Executive Board member Peter Praet.
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G20 meet as global outlook darkens
• G20 central bank governors and finance ministers will discuss global growth risks.
• May highlight the need for CBs to avoid competitive currency devaluation.
• The market is eager to see actions that may boost spending and support growth.
• A positive tone is needed to support pro-risk assets like AUD and NZD and decrease need for safe-havens JPY, EUR, CHF and Gold.
Overnight: Japan’s inflation hits 0%
• Japan’s annual CPI tumbled to 0%. This increases likelihood for further easing by BoJ.
Today:
• France: Final GDP for Q4.
• Norway: Unemployment rate for Feb. is exp. to decrease.
• Sweden: Retail sales for Jan. are exp. to rise.
• Eurozone: Final consumer confidence for Feb.
• Germany: Prel. CPI for Feb. is exp. to slow down. This could prove EUR-negative.
• US: 2nd estimate for Q4 GDP is exp. to be revised down, while core PCE deflator to remain unchanged. Also, personal income & spending for Jan. are both exp. to accelerate. Net-net, focus may be on income and spending, which could support USD.
• Speakers: Fed Gov. Jerome Powell and Lael Brainard, San Fran. Fed President John Williams and ECB Executive Board member Peter Praet.
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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