IronFX Daily Commentary by Charalambos Pissouros | 28/06/2016
June 28, 2016 8:14 am
Cable steadies near 31-year low • GBP/USD stretched to a fresh 31-year low but found some buy orders and rose a bit. • Pro-risk currencies such as AUD & NZD gained a bit as well, with no news to drive the moves. • JPY and gold gave back some recent gains but maintained their since-Friday range. • Post-Brexit uncertainty keeps the risk-off environment and any short-term relief countermoves are unlikely to be sustained.
Today: • EU: Two-day summit of EU leaders. No “Brexit” negotiations are expected, but any comments by Cameron or other EU leaders could attract attention. • Sweden: Retail sales for May are exp. to rise, which could prove SEK-positive. • US: Final estimates of GDP and core PCE deflator, both for Q1. As these may be seen as outdated, reaction in USD may remain limited. Also, CB consumer confidence index for Jun. and S&P/Case-Shiller house price index for Apr. • Speakers: ECB President Mario Draghi, ECB Executive Board member Benoit Coeure and ECB Executive Board member Peter Praet.
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Cable steadies near 31-year low
• GBP/USD stretched to a fresh 31-year low but found some buy orders and rose a bit.
• Pro-risk currencies such as AUD & NZD gained a bit as well, with no news to drive the moves.
• JPY and gold gave back some recent gains but maintained their since-Friday range.
• Post-Brexit uncertainty keeps the risk-off environment and any short-term relief countermoves are unlikely to be sustained.
Today:
• EU: Two-day summit of EU leaders. No “Brexit” negotiations are expected, but any comments by Cameron or other EU leaders could attract attention.
• Sweden: Retail sales for May are exp. to rise, which could prove SEK-positive.
• US: Final estimates of GDP and core PCE deflator, both for Q1. As these may be seen as outdated, reaction in USD may remain limited. Also, CB consumer confidence index for Jun. and S&P/Case-Shiller house price index for Apr.
• Speakers: ECB President Mario Draghi, ECB Executive Board member Benoit Coeure and ECB Executive Board member Peter Praet.
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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