IronFX Daily Commentary by Charalambos Pissouros | 28/07/2016
July 28, 2016 8:41 am
FOMC: Positive tone…but nothing about hikes this year • The FOMC remained on hold and sent some hawkish signals by saying that “near-term risks to the economic outlook have diminished”. • USD strengthened immediately, but soon gave back its gains to trade much lower. • This may have been because the Fed did not offer any timeframe on the next hike. • Focus now shifts on the US data and Fed officials’ speeches. • We believe that increasing speculation for a hike this year is needed to support USD in coming weeks.
Today: • UK: Nationwide house price index for Jul. is exp. to remain unchanged. This is usually not a market mover. • Sweden: Retail sales and unemployment rate, both for Jun. Retail sales are exp. to slow, unemployment rate to rise. These could hurt SEK. • Germany: Prel. CPI for Jul. is exp. to accelerate. This could raise speculation that Eurozone’s CPI could follow suit and thereby support EUR. • Speakers: ECB Executive Board member Benoit Coeure.
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FOMC: Positive tone…but nothing about hikes this year
• The FOMC remained on hold and sent some hawkish signals by saying that “near-term risks to the economic outlook have diminished”.
• USD strengthened immediately, but soon gave back its gains to trade much lower.
• This may have been because the Fed did not offer any timeframe on the next hike.
• Focus now shifts on the US data and Fed officials’ speeches.
• We believe that increasing speculation for a hike this year is needed to support USD in coming weeks.
Today:
• UK: Nationwide house price index for Jul. is exp. to remain unchanged. This is usually not a market mover.
• Sweden: Retail sales and unemployment rate, both for Jun. Retail sales are exp. to slow, unemployment rate to rise. These could hurt SEK.
• Germany: Prel. CPI for Jul. is exp. to accelerate. This could raise speculation that Eurozone’s CPI could follow suit and thereby support EUR.
• Speakers: ECB Executive Board member Benoit Coeure.
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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