IronFX Daily Commentary by Charalambos Pissouros | 26/09/2016
September 26, 2016 8:48 am
Algiers oil producers meeting kicks off • WTI tumbled on Friday on reports that Saudi and Iran are unlikely to agree on an output freeze. • We remain skeptical that a deal will be reached as well (we could see a repeat of Doha). • Oil is likely to be very sensitive to incoming comments by various officials over the next 2 days.
Today: • Germany: Ifo survey for Sept. Following the soft ZEW survey for the same month, we see downside risks to the Ifo forecasts. Could prove EUR-negative. • US: 1st debate between Clinton and Trump ahead of November’s Presidential election. • Speakers: ECB President Draghi, Vice President Constancio and Executive Board member Coeure. From the Fed, Board Governor Tarullo and Dallas Fed President Kaplan speak.
This week: • Tuesday: No major events. • Wednesday: US durable good orders for Aug. are exp. to fall, which could hurt USD somewhat. • Thursday: Germany’s CPI for Sept. and US final estimate of Q2 GDP. • Friday: Eurozone’s CPI for Sept. is exp. to tick up a bit but still remain very low. This is unlikely to change ECB’s near-term policy plans. US personal income and spending for Aug. Any disappointment is likely to have a greater negative impact on USD compared to a positive surprise.
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Algiers oil producers meeting kicks off
• WTI tumbled on Friday on reports that Saudi and Iran are unlikely to agree on an output freeze.
• We remain skeptical that a deal will be reached as well (we could see a repeat of Doha).
• Oil is likely to be very sensitive to incoming comments by various officials over the next 2 days.
Today:
• Germany: Ifo survey for Sept. Following the soft ZEW survey for the same month, we see downside risks to the Ifo forecasts. Could prove EUR-negative.
• US: 1st debate between Clinton and Trump ahead of November’s Presidential election.
• Speakers: ECB President Draghi, Vice President Constancio and Executive Board member Coeure. From the Fed, Board Governor Tarullo and Dallas Fed President Kaplan speak.
This week:
• Tuesday: No major events.
• Wednesday: US durable good orders for Aug. are exp. to fall, which could hurt USD somewhat.
• Thursday: Germany’s CPI for Sept. and US final estimate of Q2 GDP.
• Friday: Eurozone’s CPI for Sept. is exp. to tick up a bit but still remain very low. This is unlikely to change ECB’s near-term policy plans. US personal income and spending for Aug. Any disappointment is likely to have a greater negative impact on USD compared to a positive surprise.
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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