IronFX Daily Commentary by Charalambos Pissouros | 28/03/2016
March 28, 2016 9:12 am
Upward GDP revision keeps USD supported • An upward revision in final US Q4 GDP kept USD supported on Friday. • Stronger consumer spending, but falling corporate profits and investment. • Nevertheless, we will treat this data as outdated given the volatile start of 2016.
Today: • US: Personal income and spending, for Feb. Both figures exp. to slow. Could prove USD-negative at the release. Also, core PCE rate and pending home sales, both for Feb. Dallas Fed manuf. index for Mar.
This week: • Tuesday: Fed Chair Yellen speaks at the Economic Club of New York. • Wednesday: ADP employment report for Mar. is exp. 194k vs prev. 214k. • Thursday: Eurozone’s prel. CPI for Mar. is exp. to remain negative, but core rate is exp. to accelerate. Net-net, could prove EUR-positive. • Friday: US employment report for Mar. NFP are exp. 205k vs prev. 242k, unemployment rate is exp. unchanged and avg. hourly earnings are exp. to rise. Japan’s Tankan survey for Q1 and China’s official and Caixin manuf. PMIs for Mar.
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Upward GDP revision keeps USD supported
• An upward revision in final US Q4 GDP kept USD supported on Friday.
• Stronger consumer spending, but falling corporate profits and investment.
• Nevertheless, we will treat this data as outdated given the volatile start of 2016.
Today:
• US: Personal income and spending, for Feb. Both figures exp. to slow. Could prove USD-negative at the release. Also, core PCE rate and pending home sales, both for Feb. Dallas Fed manuf. index for Mar.
This week:
• Tuesday: Fed Chair Yellen speaks at the Economic Club of New York.
• Wednesday: ADP employment report for Mar. is exp. 194k vs prev. 214k.
• Thursday: Eurozone’s prel. CPI for Mar. is exp. to remain negative, but core rate is exp. to accelerate. Net-net, could prove EUR-positive.
• Friday: US employment report for Mar. NFP are exp. 205k vs prev. 242k, unemployment rate is exp. unchanged and avg. hourly earnings are exp. to rise. Japan’s Tankan survey for Q1 and China’s official and Caixin manuf. PMIs for Mar.
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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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