IronFX Daily Commentary by Charalambos Pissouros | 29/02/2016
February 29, 2016 9:39 am
G20 meeting: More concerns but no action • The G20 meeting ended with no new coordinated action to spur global growth. • The members simply reiterated past policy commitments and showed little urge to take new bold measures. • On FX rates, they agreed to consult closely the markets and refrain from competitive devaluation. • No new actions is likely to keep demand for safe-haven assets intact.
Today: • Germany & Norway: Both retail sales for Jan. are exp. to rise. • Sweden: Q4 GDP is exp. to have slowed a bit. This could prove SEK-negative. • Eurozone: Prel. CPI for Feb. is exp. to slow, which may prove EUR-negative. • Canada: Current account balance for Q4. • US: Chicago PMI for Feb. Pending home sales for Jan. Dallas Fed manuf. index for Feb.
This week: • Tuesday: RBA rate decision. We exp. the Bank to remain on hold. China’s official and Caixin manufacturing PMIs for Feb. are exp. to decline a bit. • Wednesday: Australia’s Q4 GDP and US ADP employment change. • Thursday: No major indicators. • Friday: US employment report for Feb. NFPs are exp. to increase, unemployment rate to remain unchanged and avg. hourly earnings to slow.
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G20 meeting: More concerns but no action
• The G20 meeting ended with no new coordinated action to spur global growth.
• The members simply reiterated past policy commitments and showed little urge to take new bold measures.
• On FX rates, they agreed to consult closely the markets and refrain from competitive devaluation.
• No new actions is likely to keep demand for safe-haven assets intact.
Today:
• Germany & Norway: Both retail sales for Jan. are exp. to rise.
• Sweden: Q4 GDP is exp. to have slowed a bit. This could prove SEK-negative.
• Eurozone: Prel. CPI for Feb. is exp. to slow, which may prove EUR-negative.
• Canada: Current account balance for Q4.
• US: Chicago PMI for Feb. Pending home sales for Jan. Dallas Fed manuf. index for Feb.
This week:
• Tuesday: RBA rate decision. We exp. the Bank to remain on hold. China’s official and Caixin manufacturing PMIs for Feb. are exp. to decline a bit.
• Wednesday: Australia’s Q4 GDP and US ADP employment change.
• Thursday: No major indicators.
• Friday: US employment report for Feb. NFPs are exp. to increase, unemployment rate to remain unchanged and avg. hourly earnings to slow.
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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