IronFX Daily Commentary by Charalambos Pissouros | 30/06/2016
June 30, 2016 11:42 am
ECB not in a hurry, but will it do more? • ECB VP Constancio said that the Bank has to “wait a little bit” following Brexit to assess if further stimulus is needed. • Market has been calm the last few days, with recent rebounds suggesting stabilization. • We believe that the Bank is likely to do more, but not immediately (early Q3 perhaps). • In the meantime, EUR outlook appears negative. (political uncertainties & low infl. exp)
Today: • Germany: Retail sales for May and unemployment rate for June. • France: Prel. CPI for Jun. is exp. to rise. • UK: Final GDP estimate and current account balance, both for Q1. These data may be seen as outdated and thus, any reaction in GBP could remain limited. • Eurozone: Prel. CPI for Jun. is exp. to rise, which could support EUR a bit, at least temporarily. Also, ECB minutes of the June policy meeting. • US: Chicago PMI for Jun. and initial jobless claims for week ended Jun. 24th. • Canada: GDP for Apr. is exp. to rise. This could support CAD at the release. • Speakers: BoE Governor Mark Carney and St. Louis Fed President James Bullard.
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ECB not in a hurry, but will it do more?
• ECB VP Constancio said that the Bank has to “wait a little bit” following Brexit to assess if further stimulus is needed.
• Market has been calm the last few days, with recent rebounds suggesting stabilization.
• We believe that the Bank is likely to do more, but not immediately (early Q3 perhaps).
• In the meantime, EUR outlook appears negative. (political uncertainties & low infl. exp)
Today:
• Germany: Retail sales for May and unemployment rate for June.
• France: Prel. CPI for Jun. is exp. to rise.
• UK: Final GDP estimate and current account balance, both for Q1. These data may be seen as outdated and thus, any reaction in GBP could remain limited.
• Eurozone: Prel. CPI for Jun. is exp. to rise, which could support EUR a bit, at least temporarily. Also, ECB minutes of the June policy meeting.
• US: Chicago PMI for Jun. and initial jobless claims for week ended Jun. 24th.
• Canada: GDP for Apr. is exp. to rise. This could support CAD at the release.
• Speakers: BoE Governor Mark Carney and St. Louis Fed President James Bullard.
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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