IronFX Daily Commentary by Charalambos Pissouros | 30/03/2016
March 30, 2016 8:40 am
Dollar slides on “cautious” Yellen • The Fed Chair struck a “dovish” tone in her remarks yesterday. • Higher external risk factors like slower global growth was a reason the FOMC revised down its policy path. • Her emphasis on risks was in contrast to recent remarks by other Fed speakers, which caused USD to tumble. • Chair’s comments tilt expectations for rate hikes in a dovish direction, in our view. • USD remains sensitive to data and future direction to depend on incoming data.
Today: • Norway: AKU unemployment rate for Jan. • Eurozone: Final consumer confidence for Mar. Usually not a market mover. • Germany: Prel. CPI for Mar. is exp. to rise but to remain in negative territory. • US: ADP employment report for Mar. is exp. 194k vs 214k. Despite the decline, a figure close to 200k could cause USD to recover some of its losses. • Speakers: ECB Governing Council member Francois Villeroy de Galhau and Chicago Fed President Charles Evans.
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Dollar slides on “cautious” Yellen
• The Fed Chair struck a “dovish” tone in her remarks yesterday.
• Higher external risk factors like slower global growth was a reason the FOMC revised down its policy path.
• Her emphasis on risks was in contrast to recent remarks by other Fed speakers, which caused USD to tumble.
• Chair’s comments tilt expectations for rate hikes in a dovish direction, in our view.
• USD remains sensitive to data and future direction to depend on incoming data.
Today:
• Norway: AKU unemployment rate for Jan.
• Eurozone: Final consumer confidence for Mar. Usually not a market mover.
• Germany: Prel. CPI for Mar. is exp. to rise but to remain in negative territory.
• US: ADP employment report for Mar. is exp. 194k vs 214k. Despite the decline, a figure close to 200k could cause USD to recover some of its losses.
• Speakers: ECB Governing Council member Francois Villeroy de Galhau and Chicago Fed President Charles Evans.
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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