IronFX Daily Commentary by Charalambos Pissouros | 27/12/2016
December 27, 2016 8:27 am
Japan’s CPIs tread water in November • Japan’s headline CPI rate rose in Nov., but the core rate remained unchanged. • Reaction in JPY was muted, perhaps due to the mixed prints. • Even though these data do not indicate any meaningful improvement in inflation, we believe that the weaker yen could boost the CPI rates. • Thus, we expect the BoJ to takes the sidelines for a while, while it examines fresh data under its new policy framework and following the yen’s slump.
Today: • US: CB consumer confidence index for Dec. is exp. to rise a bit. Also, S&P/Case-Shiller house price index for October.
As for the rest of the week: • Wed: US pending home sales for Nov. Usually not a major market mover, but in a very quiet calendar week, it could attract some attention. • Thur: BoJ releases summary of opinions from Dec. policy meeting. An optimistic tone regarding Japan’s economy could enhance our view the Bank is unlikely to act in the coming months.
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Japan’s CPIs tread water in November
• Japan’s headline CPI rate rose in Nov., but the core rate remained unchanged.
• Reaction in JPY was muted, perhaps due to the mixed prints.
• Even though these data do not indicate any meaningful improvement in inflation, we believe that the weaker yen could boost the CPI rates.
• Thus, we expect the BoJ to takes the sidelines for a while, while it examines fresh data under its new policy framework and following the yen’s slump.
Today:
• US: CB consumer confidence index for Dec. is exp. to rise a bit. Also, S&P/Case-Shiller house price index for October.
As for the rest of the week:
• Wed: US pending home sales for Nov. Usually not a major market mover, but in a very quiet calendar week, it could attract some attention.
• Thur: BoJ releases summary of opinions from Dec. policy meeting. An optimistic tone regarding Japan’s economy could enhance our view the Bank is unlikely to act in the coming months.
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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