IronFX Daily Commentary by Charalambos Pissouros | 27/10/2016
October 27, 2016 9:15 am
• Riksbank to keep rates unchanged for now • Although Sweden’s inflation profile has deteriorated since the Bank’s latest meeting, they are likely to remain on hold for now. • Riksbank tends to follow ECB footsteps, as such, they may prefer to wait until Dec. before taking any action. • We expect the Bank to maintain a very dovish bias that could prove SEK-negative. • Norges Bank to stand pat • Norway’s inflation rate declined notably in Sept., opening the door for further easing. • Nevertheless, recent comments from Gov. Olsen support that the Bank may be done easing for a while, at least in the absence of a sharp appreciation in NOK, or consistent disappointment in the economic data. NOK could strengthen. • Today: • UK: 1st estimate of Q3 GDP is exp. to have slowed to +0.3% qoq from +0.7% qoq in Q2. This will be the first set of growth data concerning the post-Brexit era. • US: Durable goods orders and pending home sales for Sept. Initial jobless claims for the wk ended 21st Oct. Overall strong data could prove USD-positive.
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• Riksbank to keep rates unchanged for now
• Although Sweden’s inflation profile has deteriorated since the Bank’s latest meeting, they are likely to remain on hold for now.
• Riksbank tends to follow ECB footsteps, as such, they may prefer to wait until Dec. before taking any action.
• We expect the Bank to maintain a very dovish bias that could prove SEK-negative.
• Norges Bank to stand pat
• Norway’s inflation rate declined notably in Sept., opening the door for further easing.
• Nevertheless, recent comments from Gov. Olsen support that the Bank may be done easing for a while, at least in the absence of a sharp appreciation in NOK, or consistent disappointment in the economic data. NOK could strengthen.
• Today:
• UK: 1st estimate of Q3 GDP is exp. to have slowed to +0.3% qoq from +0.7% qoq in Q2. This will be the first set of growth data concerning the post-Brexit era.
• US: Durable goods orders and pending home sales for Sept. Initial jobless claims for the wk ended 21st Oct. Overall strong data could prove USD-positive.
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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