IronFX Daily Commentary by Charalambos Pissouros | 26/08/2016
August 26, 2016 8:25 am
Yellen’s speech: Market mover or much ado about nothing? • Highly anticipated speech, but Yellen could avoid near-term policy comments. • If she says “a hike may be warranted this year”, it may be read as dovish (i.e. no hike in Sept.) and prove USD-negative. • A mention to September being a “live” meeting is needed to support the dollar. • Fed speakers were hawkish lately, so she could be on the same page as them and indicate that a near-term hike may be warranted.
Today: • France: Final estimate of GDP for Q2, but usually not a market mover for EUR. • UK: 2nd estimate of Q2 GDP is exp. to confirm the prel. reading. Reaction in GBP could stay limited. • US: 2nd estimate of Q2 GDP is also exp. to confirm the prel. Ahead of Yellen’s speech, a notable revision is needed to impact USD. Also, final U of M consumer sentiment for Aug.
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Yellen’s speech: Market mover or much ado about nothing?
• Highly anticipated speech, but Yellen could avoid near-term policy comments.
• If she says “a hike may be warranted this year”, it may be read as dovish (i.e. no hike in Sept.) and prove USD-negative.
• A mention to September being a “live” meeting is needed to support the dollar.
• Fed speakers were hawkish lately, so she could be on the same page as them and indicate that a near-term hike may be warranted.
Today:
• France: Final estimate of GDP for Q2, but usually not a market mover for EUR.
• UK: 2nd estimate of Q2 GDP is exp. to confirm the prel. reading. Reaction in GBP could stay limited.
• US: 2nd estimate of Q2 GDP is also exp. to confirm the prel. Ahead of Yellen’s speech, a notable revision is needed to impact USD. Also, final U of M consumer sentiment for Aug.
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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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